Industry bodies and insurers have been given a two-week extension for their submissions to the Australian Securities and Investments Commission’s consultative paper on scaled advice.

Submissions were to have been made by last Thursday, but a number of industry bodies and insurers told insuranceNEWS.com.au they have been given a two-week extension and submissions now have to be made by September 23.

It’s understood the organisations requested an extension due to the September 16 deadline for submissions to the Federal Government’s Future of Financial Advice draft bill.