The following statement is attributable to an Insignia Financial spokesperson:

Insignia Financial welcomes the package of consumer protection reforms announced by Federal Government today that will support the ongoing confidence of Australians in the retirement income system.

After extensive engagement with industry, the Assistant Treasurer and Minister for Financial Services, Dr Daniel Mulino, has laid out a sensible path forward across a range of critical policy areas, including advice, regulation of harmful lead generation and provisions for compensation.

Financial advice plays a vital role in providing Australians with guidance and confidence and we look forward to seeing the details and working constructively with government and regulators to ensure effective implementation.

Read the full media release here