Govt makes minor changes to advice laws

The Abbott government has reached an agreement with Labor on a number of minor and technical refinements to the future of financial advice laws.

"Once these refinements are finalised it should be considered settled and given time to work," Assistant Treasurer Josh Frydenberg said in a statement on Thursday.

The agreed refinements, to be regulated before July 1, 2015 include clarifying that advice provided to an employer about default superannuation funds is considered to be providing a financial service to a retail client.