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What a load of rubbish coming from both Westpac & the FSU.
Adviser conduct, qualifications, and ongoing education obligations are the responsibility of the Licensee to police ... not the regulator !!!!
If the government hadn't allowed the introduction of a short pathway to financial planning by allowing RTO's to provide a 4 day course, followed by an open book exam enabling anyone to put out a financial planning shingle, a lot of the issues now the subject of the RC focus would not have arisen.
Now we have FASEA, an overkill like all previous government legislation, and there has been a plethora of it since the introduction of FSR in 2000.
If you have very little ethics, if your are dishonest, then further education will only breed smarter crooks.