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Accountants have been placed on notice that any advice they provide on self-managed superannuation funds (SMSFs) over the last three years outside of the Australian Financial Services Licensing (AFSL) regime will have no standing when it comes to the experience necessary to be licensed under the new regime.

Australian Securities and Investments Commission (ASIC) deputy chairman, Peter Kell, has made the position clear at the same time as telling accountants the transitionary period between the old accountant’s exemption and the new licensing regime is now well and truly over.  READ More: