The olive tranche

Yes the devil is in the detail.  However, until Treasury change the Code of Ethics, nothing changes from an SoA point of view.  Advisers still can't deal with conflicts like any other professional, must ENSURE that the client FULLY understands the advice, with the knowledge that at some stage a client will state they never understood the advice as soon as the market has an off day, and lets not forget that we must consider EVERYTHING!  Treasury stated that would look at this in 2023, we are still waiting.

So what has really been achieved out of the QAR - Industry super funds, and the big institutions (Read banks and insurance companies) will now be able to sell whatever they like to whomever they like with impunity, while the adviser is stuck with largely unworkable  advice legislation.