Strengthening protections

Strengthening protections for consumers, small businesses and rural and regional communities

All Australians have the right to be treated fairly in their dealings with their financial firms. This is critical to ensuring that Australians can confidently engage with, and have trust in, the financial system.

The Government is taking action to address conflicts of interest and better align the interests of firms and consumers, including where consumers use an intermediary such as a financial adviser or mortgage broker. The Government is also implementing reforms to ensure that consumers are treated fairly in their dealings with the financial sector.

Key measures include ending the grandfathering of financial adviser conflicted remuneration, creating a best interests duty for mortgage brokers, reforming mortgage broker remuneration, and progressing consumer protections relating to insurance and superannuation.