The federal government will release the draft legislation on its Future of Financial Advice (FOFA) reforms in two parts next month, according to the FPA general manager policy relations.
Dante De Gori confirmed the time frame at the association's Sydney Chapter luncheon on Friday.
De Gori said Treasury had released the timing of the draft legislation at a peak consultation group meeting held earlier that day.
"We will have draft legislation in the first week of September and that will consist of best interest, opt-in and ASIC powers," De Gori said.
"Then we will have a second package later in the month of September which will tackle conflicted remuneration."
He said the government has not yet released a detailed timeframe in respect to retail and wholesale definitions, with the compensation scheme "very much behind schedule".
He said the Friday discussions centred on the government's intra-fund advice reform, accountants exemptions and stockbrokers.
The meetings were attended by Treasury, ASIC and industry stakeholders, he said.
A spokesperson for the Minister for Financial Services, Bill Shorten, could not comment on the time frame.
