more post-fofa fofa changes

Looks like there are more post-FOFA changes coming. I wonder how this will affect HUB24.

http://www.afr.com/p/national/retreat_on_financial_planning_rules_J3h90bmZM13SbXqeiRylOJ

Retreat on financial planning rules to hit investors

DUNCAN HUGHES, SALLY PATTEN AND CHRISTOPHER JOYE
Financial planners will once again be able to earn commissions for selling a wide range of investment products after a federal government decision to water down investor protection laws.

Assistant Treasurer Arthur ­Sinodinos is consulting the industry on draft rules, drawn up after heavy industry pressure, that will make it easier for advisers to receive commissions and other so-called “conflicted payments” provided they have not tailored their advice to the client’s personal ­circumstances.

The proposed changes will apply to the Future of Financial Advice or FoFA reforms that have cost industry $1 billion to implement and followed a spate of collapses including Storm Financial and Trio Capital. Major banks and wealth managers are moving quickly to take advantage of the softer rules.