FASEA releases draft guide for code of ethics
The Financial Advisers Standards and Ethics Authority (FASEA) has released the draft Financial Planners and Advisers Code of Ethics 2019 guide for consultation.
The draft guide provided an explanation of the intent and application of the Code’s values and standards and was released after consultation with stakeholders in 2019 and early 2020.
It used ‘fundamental’ questions to help advisers understand the Code and highlighted the requirement for advisers to exercise their professional judgement in the best interests of their clients.
The draft guide built on the Preliminary Response to Submissions released in December 2019 and the case study examples contained in FG002 Financial Planners and Advisers Code of Ethics 2019 Guidance.
Stephen Glenfield, FASEA chief executive, said the Code of Ethics provided an ethical framework of values and standards to assist advisers in exercising their professional judgement in the best interests of their clients.
“FASEA understands that advisers and other stakeholders are seeking additional support in understanding the practical application of the Code of Ethics and welcomes stakeholder feedback on this draft guide,” Glenfield said.
All feedback and submissions on the draft guide should be submitted through FASEA’s dedicated consultations email until 2 November, 2020.
AUTHOR
Chris Dastoor
Recommended for you
Insignia Financial has returned to profit in FY25, after a $185m loss in the previous year, while its advice division grew their revenue per adviser by 14 per cent.
With licensee switching on the rise, particularly for newer advisers, compliance expert Sean Graham has shared red flags to watch out for when making the jump between AFSLs.
Beyond their investment benefits, over a third of advisers say utilising managed accounts solutions has allowed them to take on more clients, according to Praemium.
Insignia Financial’s wrap platform has appointed Heidi Press, former HUB24 head of product management, to spearhead the design and delivery of the MLC Expand platform.
