The Financial Adviser Standards and Ethics Authority (FASEA) has released the legislative instrument and explanatory statement covering the Code of Ethics standard for financial advisers including amendments to standards around conflicts and best interests.
FASEA said the amendments had followed consultation around 18 submissions in November and December.
“Following this consultation, FASEA has clarified aspects of the code, including the values underlying the code, and amending standards around conflicts, the best interests of the client, the effects of advice on the client and adviser record-keeping,” the FASEA announcement said.
