FSCP

Policy & Regulation

FSCP fully operational and will address ‘less serious’ misconduct: ASIC

Leah Sciacca, ASIC senior executive for financial advisers, has outlined some of the activities of the Financial Services and Credit Panel, which commenced operations las...

Financial planning

Drilling down into the SDB

With the Single Disciplinary Body in operation but yet to convene a panel, Michelle Huckel, Stockbrokers and Investment Advisers Association policy manager, has explained...

Policy & Regulation

ASIC seeks feedback on adviser disciplinary body

Financial advisers are being asked for feedback by the regulator on the Financial Services and Credit Panel....

Financial planning

Better Advice Bill reforms commence

The Financial Services and Credit Panel now has its own statutory functions and powers, while tax financial advisers have new requirements. ...

Policy & Regulation

Still issues with single disciplinary body legislation

The draft legislation for the Better Advice Bill has outlined the Financial Services and Credit Panel will convene on serious matters, but the Association of Financial Ad...

Policy & Regulation

Govt seeks feedback on FSCP and FAR

The Government will seek feedback on when the corporate regulation must convene a Financial Services and Credit Panel and the type of sanctions to include on the financia...

Financial planning

How advisers can avoid trouble with the FSCP

Advisers with comprehensive and up to date documentation will have the best shot at surviving any review from the financial services credit panel....

Financial planning

Advisers shouldn't be responsible for product failure

Product and advice should be kept separate, and advisers should not be responsible for product failure, according to an association....

Financial planning

Does Treasury have the skills to maintain FASEA?

There needs to be careful consideration on whether Treasury has the skill set and expertise to perform the Financial Adviser Standards and Ethics Authority functions and ...

Financial planning

Cost of FSCP need to be kept under control

The cost of the single disciplinary body needs to be kept under control otherwise it will be another factor in driving up the cost of financial advice, according to indus...

Policy & Regulation

ASIC’s FSCP lacks consumer voice

The corporate regulator’s Financial Services and Credit Panel proposal effectively only has industry figures judging the behaviours of other industry figures, according t...

Policy & Regulation

FSCP appointees need to understand context of advice

Any “eligible person” appointed to the panel needs to understand the correct context of the advice in question, according to a Parliamentary submission....

Financial planning

ASIC only allowed to ban advisers under new disciplinary regime

The proposed Financial Services and Credit Panel will determine whether to impose an administrative sanction, infringement notice, both, or not to take action....

Financial planning

FASEA not the final battle

Although the removal of the Financial Adviser Standards and Ethics Authority is a huge victory for many in the industry who spent the last few years fighting for reform, ...

Financial planning

FASEA gone but the exam and degree regime continues

The Financial Adviser Standards and Ethics Authority may be gone but its exam timetable will continue and so will the requirement for financial advisers to become degree ...