A date has yet to be set for proposed changes to the Future of Financial Advice legislation to be lodged in Parliament.

The current Senate sitting ends on Thursday, and senators will not return until February 9.

Labor has agreed to allow some changes to the legislation after it defeated the Coalition’s proposed amendment regulations last month. The most important change is to allow grandfathering of remuneration for advisers moving between dealer groups.

“Amendments to the grandfathering provisions will address unintended consequences and facilitate competition in the financial advice industry by enabling advisers to move licensees with their clients while continuing to receive grandfathered remuneration,” Finance Minister Mathias Cormann said.

The parties have also agreed that training and education non-monetary payments will not be treated as conflicted remuneration.