FINSIA welcomes the opportunity to comment on the ALRC Report A Financial Services Legislation - and suggests that frequently the cause of customer harm and dissatisfaction is the application of rigid policies when the application of professional judgement is needed.

FINSIA (the Financial Services Institute of Australasia), welcomes the opportunity to make a submission to the Review of the Quality of Financial Advice Terms of Reference. FINSIA’s purpose is to deepen trust in financial services by raising standards of professionalism. It is a not-for-profit professional membership body for individuals working across the full spectrum of financial services industry in Australia.

As a connector between finance professionals and industry, FINSIA is keen to support the financial service industry’s commitment to earn back trust and create an enduring customer focussed culture.