I'm assuming this is false, or I wouldn't be asking...
Just the other day, another flight instructor in my local area, whom I know, told me:
"... new rule as of 2014: if you keep your CFI current, you don't need a flight review!"
This is in regards to the FAA system.
I couldn't find a source for that, and I have never heard this before.
I am aware that a requirement to have one hour of ground instruction as a part of the flight review is waived for current CFIs, but I have never heard that the flight portion is waived as well.
My flight review is coming up, so it has been almost two years since I have personally received a flight review, which was in 2014. I'm just wanting to verify this information and receive a source if it is true.