Friendly Societies of Australia (formerly the Association of Friendly Societies Australia) is the peak industry body representing friendly societies throughout Australia. FSA's principal role is to keep the industry abreast of legislative changes, particularly on a Federal level, which is achieved by monitoring Parliamentary sessions and reviewing all relevant legislation. FSA also maintains close contact with ASIC, APRA, the ATO and Treasury and actively works with these bodies to ensure that legislative and regulatory changes and prudential standards are relevant and appropriate to the friendly society sector, particularly now that friendly societies are subjected to the same controls as life companies. In order to achieve this, FSA co-ordinates any submissions that need to be prepared and coordinates any necessary lobbying on behalf of the industry.
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