A Financial Services Working Group has been established by the Federal Government to look at making the provision of advice and disclosure simpler. The Group is comprised of officials from the Department of Finance and Deregulation, Treasury and ASIC.
The three main focus area of the Group are:
- Intra-product advice by superannuation funds
- Shorter and simpler disclosure documents
- Disclosure requirements for First Home Saver Accounts
The initial focus is on shortening financial product disclosure documents (particularly PDSs) for superannuation funds.
