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Who does this affect?

All life companies, responsible entities and superannuation trustees.

What do you need to do?

Watch out for the options paper and respond to it.

Author
Jim Boynton  
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Jim Boynton  
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Mark McFarlane  
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Sydney
Michelle Levy  

Melbourne
John Malon  

Canberra
Stephen Jaggers  

Government announces options paper to tackle legacy financial products - 5 August 2009

In the opening session of the Investment and Financial Services Association (IFSA) conference, the Minister for Financial Services, Superannuation and Corporate Law, the Hon. Chris Bowen MP, announced that an options paper will be released in coming weeks to tackle product rationalisations.

The Government will formulate a proposal once industry has responded to the paper. The Minister has acknowledged that this is an important issue that needs to be resolved quickly.

This is a move that the industry will welcome. Watch this space.

This publication is only a general outline. It is not legal advice. You should seek professional advice before taking any action based on its contents.