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Australian Financial System Review - A lead for New Zealand?

The Australian Financial System Review which was released on Sunday the 7th of December can be found here and will likely have some relevance to the upcoming review in New Zealand of the Financial Advisers and Service Providers Acts.

One reference which New Zealand RFAs may find chilling is to insurance commissions. But Philip Macalister thinks that Australia hasn't got financial regulation right, and shouldn't be considered a model for New Zealand. He makes a good point when talking about the value of trans-Tasman harmonisation being limited - very, very, few financial advisers practice in both Australia and New Zealand. Likewise, very few clients buy financial products in both countries at the same time. There is neither a consumer or adviser benefit. 

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