Second Reading Speeches

Corporations Amendment (Financial Advice) Bill 2014

Type
Private
Sponsor(s)
WHISH-WILSON, Sen Peter
Originating house
Senate
Status
Not Proceeding
Parliament no
44

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Summary

Amends the

Corporations Act 2001
to provide that the term ‘advice’ can only be used when financial advice takes account of a client’s personal financial situation by replacing references to ‘general advice’ with references to ‘general information’; and requiring that when ‘general information’ is provided to a client, the client is warned that the information is not advice.

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