ASIC has released plans for publishing regulatory guidance on the impact of the Future of Financial Advice (FoFA) reforms on the financial planning industry.

Earlier this month, newly-appointed ASIC commissioner Peter Kell committed the regulator to supporting government and Bernie Ripoll, chairman of the Parliamentary Joint Committee on Corporations and Financial Services, who promised to outline the changes in “plain English”.

“The regulator has a big role to play in how any new policy is interpreted,” said Ripoll at the second Professional Planner Dealer Group Summit, which concluded last week.

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