Industry Reacts to Mulino's Sweeping Reforms

Treasury: Protecting Consumers and the Promise of Superannuation in an Evolving Financial Ecosystem

On 19 August 2026, the Australian Government published a fact sheet regarding further reforms to strengthen consumer protections and building the resilience of the Australian superannuation and financial system.The Government’s Protecting Consumers in the Superannuation System measure, builds on the reforms announced in the 2026-27 Budget. The reforms span six pillars: For APRA-regulated funds, the Government will legislate caps on advice fee de…

Industry Reacts to Government’s Consumer Protection Reforms

Industry bodies have generally welcomed the government’s announcement of a package of reforms to strengthen consumer protections, although the FAAA says it’s disappointed the new class of adviser will be limited to select large institutions. In responding to Minister for Financial Services Daniel Mulino’s National Press Club address yesterday, the FAAA’s CEO, Sarah Abood, says […]

Industry reacts to Mulino's sweeping reforms

From the advice sector to super funds, reactions to the sweeping reforms announced by the minister for financial services Daniel Mulino have been broad. Industry superannuation funds have welcomed financial advice reforms announced yesterday, which would create a New Class of Adviser and let funds deliver low-cost advice to members in-house. Treasury said the new adviser regime would initially apply only to APRA-regulated superannuation and life…