Consistent with recommendations 2.3, 2.5 and 2.6 of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the then government agreed to undertake a review on the effectiveness of measures to improve the quality of financial advice.
The Quality of Advice Review commenced on 11 March 2022, when the former government released the terms of reference for the review and announced the appointment of Ms Michelle Levy as the independent reviewer.
Final report
The Government received the Final report on 16 December 2022 and released it on 8 February 2023.
Government response
The Government responded to the Quality of Advice review on 13 June 2023 as part of its Delivering Better Financial Outcomes package.
The Government provided its final response to the remaining recommendations of the Quality of Advice review on 7 December 2023 as part of the Delivering Better Financial Outcomes package.
Media and news
- Media release – Government unveils comprehensive financial advice reform package – 7 December 2023
- Media release – Delivering Better Financial Outcomes – roadmap for financial advice reform – 13 June 2023
- Media release – Financial advice review released – 8 February 2023
- 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
Contact
For Media enquiries call +61 2 6263 2300 or email media@treasury.gov.au.