Accountants who have provided self-managed superannuation fund (SMSF) advice have been urged to make contact with their professional indemnity insurers to determine the degree to which they are covered for advice provided before the new licensing regime became effective on 1 July.
Referencing recent warnings from ASIC about the provision of advice outside an Australian Financial Services Licence, industry consultant John Wiseman warned that accountants will need to be transparent with their clients.
Read the full story at Money Management.
