FAA doesn't work: Everett
FMA chief executive Rob Everett says the FAA doesn't work, but wonders how much advisers want to change it.
"We strongly support the ‘root and branch’ approach to reviewing the operation of both of these sets of regulations," he says in a newsletter.
"Frankly, neither currently operate in a way that’s satisfactory to regulators, industry or consumers. But the appetite for change, at least in the advice sector, has to be questioned. We will continue to engage with the sector to determine our views on a number of the topics raised."
Good Returns has requested an interview with Everett.
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