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Could the government scrap general advice?

Could the government scrap general advice?

Treasury could opt to scrap general advice entirely as part of its 2022 Quality of Advice Review, but the move would need to be carefully reviewed to ensure it doesn’t further restrict consumer access to financial information, an industry association has said.

by Shared by the ifa | May 12, 2021

ACCC will eye algorithms to protect small business: Sims

AFA acting chief executive Phil Anderson said one possible solution to problems with general advice – which were not able to be solved by changing the name used for the term, according to a recent ASIC report – was to eliminate the advice as a category altogether to reduce consumer confusion.