Economics Committee to scrutinise financial advice sector June 30

THE House of Representatives Standing Committee on Economics will scrutinise the financial advice sector at a hearing by videoconference on June 30, 2020, as part of its ongoing review of the four major banks and other financial institutions.

The chair of the committee, Tim Wilson MP, said, "These hearings are an important mechanism for the Parliament to publicly scrutinise and hold Australia’s financial advice sector to account."

"Many Australians turn to financial advisers and mortgage brokers to help them navigate important financial decisions, such as finding the right mortgage or determining how to best invest in and secure their retirement. It is essential that Australians can trust that financial advisers and mortgage brokers are always acting in their client’s best interests, rather than the interests of the adviser or any third parties."

"Given the widespread misconduct in the financial advice sector identified by the Hayne Royal Commission, it is important that financial advisers, mortgage brokers, and those in the industry are held accountable to ensure that they are making the crucial improvements needed to restore trust in the sector."

Public hearing details

Date: Tuesday, 30 June 2020 Time: 9am to 5pm VIDEOCONFERENCE
9.00am 10.00am 11.00am 11.15am 12.00pm 1.00pm 1.45pm 2.30pm 3.15pm 3.30pm 4.15pm 5.00pm	Association of Financial Advisers Financial Planning Association of Australia Mortgage and Finance Association of Australia Finance Brokers Association of Australia Break Finance Adviser Standards and Ethics Authority AMP Lunch IOOF Industry Fund Services Break Australian Finance Group Stockbrokers and Financial Advisers Association Close

The hearings will be broadcast live at aph.gov.au/live.

ends