FPA training targets anti-money laundering
Jo-Anne Bloch
The first of three online training courses in Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) was launched yesterday by the Financial Planning Association.
The courses are intended to assist FPA members prepare for the introduction in December this year of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
“This new training program will help the financial planning profession fulfil the important role it plays in protecting the community,” according to FPA chief executive officer Jo-Anne Bloch.
“Planners and licensees will learn how to prevent and report potential money laundering and financing of terrorism activity, as well as receiving a background to the new legislative regime.”
Bloch added that the FPA is also developing guidelines, in conjunction with IFSA, to assist planners to carry out their customer identification collection obligations under the new legislation.
The two subsequent online courses will focus on specific AML/CTF legal requirements and new industry guidelines for financial planning professionals.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
