Planner training requirements up for discussion
The Australian Securities and Investments Commission (ASIC) is calling for industry feedback on proposed changes to financial planner training.
ASIC made the call via a consultation paper it released yesterday, entitled “Reviewing and updating RG 146: Training of financial product advisers”.
The consultation paper seeks feedback on ASIC’s proposals to update financial product adviser training, carried in its “Regulatory Guide 146: Licensing: Training of financial product advisers (RG 146)”.
This guide followed the publication by the Government of the “Corporate and Financial Services Regulation Review” in November last year, which announced that ASIC would review training requirements for financial product advisers.
In yesterday’s consultation paper, ASIC’s executive director of regulation Malcolm Rodgers said the regulator seeks feedback on the “appropriateness of current training standards, recognition of prior study and training, and the quality and currency of courses on the ASIC Training Register”.
“The main focus of this review is to examine changes to the administration of our policy to facilitate flexibility in the training requirements of financial product advisers.
“We encourage all advisers, licensees and consumers with an interest in the training standards of financial product advisers to comment on the issues and proposals we have identified,” he said.
Submissions on the consultation paper close on September 25, 2007, and should be e-mailed to [email protected].
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