Accountants providing advice on self-managed super funds (SMSFs) will have to be appropriately licensed, under the AFS Licensing framework, before July 1 2016.
ASIC recently set a ‘soft’ deadline for limited AFSL applications – stating that accountants who lodge their applications after 1 March 2016 run a “significant risk’ of not being assessed by the 30 June deadline.
If you hold a limited or full Australian Financial Services licence, you will need to be a member of an ASIC-approved external dispute resolution scheme like the ‘Financial Ombudsman Service’ (FOS).
[FOS website] [LTN 13, 21/1/16]