FASEA still on notice to explain code of ethics consultation

FASEA/Rex-Patrick/Financial-Adviser-Standards-and-Ethics-Authority/code-of-ethics/financial-advisers/

5 May 2020
| By Mike |
image
image image
expand image

The Financial Adviser Standards and Ethics Authority (FASEA) is again on notice to explain to Senate Estimates how it went about the consultation process around the development of the financial adviser code of ethics.

Cross-bench South Australian Senator, Rex Patrick placed key questions to FASEA on the Senate notice paper which, as yet, remain unanswered by the authority.

Patrick has asked FASEA which stakeholders were engaged in the consultation period around the development of the code of ethics, whether the consultation was conducted by “survey, by some sort of town hall meeting-and, indeed, from which entities you received submissions” and the timelines.

“Could you maybe lay out the actual internal process that FASEA went through in terms of who was involved in that final determination and how they took input from consultation and acted on it,” the Senator asked.

The questions on notice to FASEA are among a raft of questions asked during the March Senate Estimates hearings, none of which have yet been answered by any of the Government departments and agencies involved.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 2 weeks ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

4 days 4 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

2 weeks 5 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

4 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5