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Managing Compliance

Following introdution of the Financial Services Reforms Act, ASIC has set minimum standars for the training of financial product advisers. Among other things, licensees must ensure that their advisers (and themselves) meet the training standards and undertake all necessary continuing training.

 

  1. Ensuring current and new advisers providing retail advice meet regulator standards;
  2. Implementing adviser training plans that maintain and/or develop competencies required for their job role; and
  3. Ensuring that training is recorded and monitored.

For more information on relevant training standards for your industry segment visit www.asic.gov.au and click on Financial Services > Training from the navigation menu on the left hand side of the screen. If you have further questions, please feel free to give us a call on (02) 9459 4310.

For further advice on Licencing Requirements, NIBA members can contact Technical Services on (02) 9459 4300, or email nts@niba.com.au. Otherwise, contact ASIC for more information, on 1300 300 630