Tax (financial) advisers exposure draft policy documents open for comment
The Tax Practitioners Board (TPB) has released three exposure draft policy documents for comment and feedback. The draft policy documents are the first in a suite of documents which provide details of the TPB’s proposed approach to the regulation of the tax (financial) services profession from 1 July 2014. Further draft policies will be released at a later date.
The draft policy documents have been prepared in consultation with relevant professional associations and other stakeholders.
The draft policy documents released for comment are:
- What is tax (financial) advice service?
- Proposed professional indemnity insurance policy requirements for tax (financial) advisers
- Proposed continuing professional education requirements for tax (financial) advisers
Ian Taylor, Chair of the TPB, said “Our aim is to assist tax (financial) advisers and the financial advice industry to understand our regulation of the profession from 1 July 2014 and provide detail about the obligations of a registered tax (financial) adviser. We also want to work with the industry to ensure our regulatory approach is as efficient and effective as it can be. Therefore, I’d encourage stakeholders to provide feedback to us on each of these draft policy documents.”
Submissions on the tax (financial) adviser draft policy documents close on 6 April 2014 and can be sent to tpbsubmissions [at] tpb.gov.au. All submissions will be reviewed and considered before the draft policy documents are finalised and published on the TPB website.
Further information about the Tax Practitioners Board
The TPB regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct. The TPB is working jointly with Australian Securities and Investments Commission to manage the registration and regulation of tax (financial) advisers which comes into effect from 1 July 2014.
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