Hon Dr DAVID CLARK: A key requirement of the scheme is that all advisers must sign up to a new code of professional conduct which sets standards of competence and professional conduct. Advisers will also be required to operate under a licence granted by the Financial Markets Authority. I'm pleased to say that these changes will increase transparency by requiring financial advisers to disclose any conflicts of interest, commissions they're paid, and limits on the companies they advise on. Introducing a new financial advice regime has been a major undertaking, and I want to thank the financial advice sector for their continued input into the development of an improved regime that will better serve the interests of people seeking financial advice, helping them navigate difficult financial decisions and plan for their future.