February 2020 marks the one year anniversary of the publication of the Hayne Royal Commission’s final report on misconduct in the banking, superannuation and financial services industry (the Hayne Report).
2020 is also the year in which the Government has announced it intends to implement the vast majority of the 54 recommendations directed towards it in that report.
We know that many of our clients are likely to be affected by, or interested in, the changes coming in the next 12 months.
For example, just last Friday, the Government released 14 different pieces of draft legislation, designed to implement 22 recommendations from the Hayne Report. These draft Bills affect financial advisers, superannuation and insurance providers, Australian credit licence holders, and other members of the financial services industry.
Given the rapid and extensive changes expected in the coming year, GRT will be releasing regular updates and hosting sector-specific seminars designed to help you understand and practically implement the new obligations and responsibilities.
To kick off this series, we’ve prepared a guide summarising the legislative changes that are already on the Government’s agenda for 2020. Click here and here to download our update and printable Roadmap.