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TPB invites comment on confidentiality requirements for tax (financial) advisers information sheet

Monday, December 21, 2015

TPB invites comment on confidentiality requirements for tax (financial) advisers information sheet

Chair of the Tax Practitioners Board (TPB), Mr Ian Taylor, has today invited stakeholders to comment on the draft information sheet about confidentiality of client information for registered tax (financial) advisers.

 ‘Under the Code of Professional Conduct (Code), registered tax (financial) advisers must not disclose any information relating to a client’s affairs to a third party without the client’s permission, unless there is a legal duty to do so,’ Mr Taylor said.

Mr Taylor said the draft information sheet aims to assist tax (financial) advisers to understand how to comply with their confidentiality obligations under the Code, including options for obtaining the necessary client permission.

‘I encourage stakeholders to provide their suggestions and comments on this draft information sheet,’ Mr Taylor said.

All submissions will be reviewed and considered before the final information sheet is published on the TPB website.

Submissions on the exposure draft close on 19 February 2016. Comments can be sent to tpbsubmissions [at] tpb.gov.au

ENDS

About the Tax Practitioners Board:

The Tax Practitioners Board 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.

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