FPA and CCH launch electronic compliance manual
TheFinancial Planning Association CCH
The manual will provide practitioners and licensees with information needed in the transition to the Financial Services Reform Act (FSRA).
FPA chief executive Ken Breakspear said the manual would enhance a financial planner’s ability to provide objective and professional financial planning advice.
“This is a living document that will be updated regularly to ensure that financial planning professionals stay up to date with the changing legislative environment. Importantly, it has the potential to save smaller financial planning firms time and money,” Breakspear says.
Areas covered by the manual will include the advising process, licensees’ responsibilities, training, handling complaints, dispute resolution, best practice standards and risk management.
The first edition of the FPA/CCH electronic compliance manual will be released on June 27.
Recommended for you
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments for investments.
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
