The discussion about a single body is positive , as a CPA I understand well how it can work. However, what is missing is addressing the exisitng structure and its costs. Currenlty paying $50,000 plus per annum to an AFSL plus ASIC levy, PUS AFCA membershipPlus Membership of CPA or FPA or SMSF Association plus PI Insurance Plus the new Industry last resort levy seems to be enough to cover it all.

So if we have a single body, which has the right set up can we get rid of AFSL Structure, ADSL do not agree as they are making money from it. What value do they add to the integrity if the Single body does its job. Most of it is aggreagted cost savings does not need ASIC licensing structure to provide. Afterall majority of the fraud cases recently have not been stopped becasue we all are underan AFSL.

Just a few thoughts