The Government is committed to ensuring that Australians have access to high quality, affordable and accessible financial advice.
Consistent with recommendations 2.3, 2.5 and 2.6 of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission), the Government is undertaking a review into the quality of financial advice.
The Government released the terms of reference on 11 March 2022.
The Review will be led by Ms Michelle Levy and supported by a secretariat based in Treasury.
The Review will invite submissions from the public and consult with stakeholders, including consumers, industry, and regulators. The Review will also be informed by data collected by ASIC and Treasury.
A report will be provided to the Government by 16 December 2022.
Media and news
- Media release – Release of the Quality of Advice Review terms of reference and appointment of reviewer – 11 March 2022
- Media release – Morrison Government to make quality financial advice more affordable – 16 December 2021
Questions regarding this review can be emailed to: AdviceReview@treasury.gov.au
Media enquiries can be directed to firstname.lastname@example.org or +61 2 6263 2300.