Government ploughs ahead with advice red tape cuts Government ploughs ahead with advice red tape cuts An industry body has welcomed a reduction in regulatory layers set for the financial advice sector this year, after the government allocated a final funding amount to FASEA in Tuesday’s budget ahead of its winding down later in 2021. A A Commenting on the budget announcement, FPA chief executive Dante De Gori said the government had demonstrated its progress around reducing the regulatory burden for financial planners. “The FPA supports a commitment by the Government to reduce the number of regulators in financial advice by confirming the wind down of FASEA by 31 December 2021, and putting increased caps on ASIC’s spending,” Mr De Gori said.