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AAP
AAP
Politics
Tess Ikonomou

Regulations for financial advice 'not working'

Stephen Jones
Stephen Jones says the government wants to get the balance right on financial advice regulations. (Mick Tsikas/AAP PHOTOS) (AAP)

An overhaul of regulations governing financial advice has been proposed after a review found the system was "plainly not working" and presented an obstacle to consumers getting affordable and high quality advice.

Assistant Treasurer Stephen Jones released the 267-page Quality of Advice Review on Wednesday, which was chaired by lawyer Michelle Levy and made 13 recommendations on accessibility issues for consumers.

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