The Parliamentary Joint Committee (PJC) on Corporations and Financial Services will deliver its verdict on the federal government’s industry advice reforms in February next year.
The PJC will report its findings to Parliament on 29 February 2012, a committee statement said.
The committee is seeking written submissions from interested individuals and organisations by 25 November 2011.
Earlier this week, PJC chair Bernie Ripoll said the committee would meet to discuss the drafts.
“We’ve literally just begun. It’s really now just about determining the timeframe,” Ripoll said.
“We’ve got three inquiries going at the same time. I’m confident that the committee has the capacity and will fully deal with FOFA, but I’m yet to make an announcement of the final timing of all of those matters.”
As well as reviewing the FOFA drafts, the PJC is also handling the inquiry into the collapse of Trio Capital and any other related matters, and the Consumer Credit and Corporations Legislation Amendment (Enhancements) Bill 2011.
The FOFA reforms were handed a potential setback on 13 October after the Senate called on the PJC to review the FOFA drafts.
On 19 October, the government admitted to breaching the Office of Best Practice Regulation in the changes it made to its FOFA reforms after questions from the opposition assistant treasury spokesman Mathias Cormann before a Senate estimates committee.
Parliamentary debate on the first tranche of FOFA is expected to begin later this month.
