ASIC reviews training policy
The Australian Securities and Investments Commission (ASIC) is currently conducting a policy review regarding the appropriateness of some of the training standards within financial planning.
The review will focus on the current standards for providers of general advice and providers of advice on general insurance products.
It will also revisit ASIC’s training register as well as determine whether some of the categories within Policy Statement 146 Licensing: training of financial product advisers should be broken down into a larger number of narrower categories.
Furthermore, ASIC intends to review its stance on the recognition of prior study and training.
ASIC will release a public consultation paper in July to seek broad input on the review.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
