Regulation Impact Statement Updates
Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.
Enhanced Register of Financial Advisers
Regulation Impact Statement – Department of the Treasury
On 16 February 2015 the Government registered the Corporations Amendment (Register of Relevant Providers) Regulation 2015. The regulation establishes a public register of all people providing personal advice on more complex financial products to retail clients.
The Government announced it would establish a register of financial advisers on 17 July 2014 and announced details of the content of the register on 24 October 2014. The Government requested the Treasury to prepare a post-decision Regulation Impact Statement for the proposed register after consulting with stakeholders on the likely regulatory costs.
The Treasury submitted a post-decision Regulation Impact Statement for final assessment and was assessed as compliant by the Office of Best Practice Regulation (OBPR).
The RIS estimates the average regulatory cost at $2.05 million per annum, and identifies offsets. The OBPR has agreed to the regulatory cost and offset estimates.