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In media release No 2012/013, issued 14 March 2012, the Minister for Employment and Workplace Relations and Minister for Financial Services and Superannuation, Bill Shorten, announced that the Future of Financial Advice (FOFA) reforms will commence from 1 July 2012, as originally announced, but the application of the provisions will be voluntary until 1 July 2013.

Mandatory application will start from 1 July 2013.


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