ASIC’s financial advice hub launched

The corporate regulator has launched its ‘Financial Advice Hub’ to provide guidance and information impacting financial advice licensees, advisers, and relevant stakeholders.

The Australian Securities and Investments Commission (ASIC) said the webpage followed feedback from stakeholders that said ASIC guidance was hard to find.

“This financial advice webpage consolidates ASIC’s existing regulatory content on financial advice into a single repository to help industry participants more easily find the information that is most relevant and useful to them,” it said.

Related News:

The current topics and issues on the hub included:

  • How ASIC regulated financial advice;
  • Obligations when giving financial advice;
  • Educational requirements;
  • Running a financial advice business;
  • ASIC guidance;
  • Registers; and
  • Connecting with industry.

ASIC noted the hub was part of a range of initiatives it had scheduled for release in response to calls to better assist advice licensees and advisers to help provide good-quality and affordable personal advice.

“ASIC anticipates that these new initiatives can help industry participants reduce compliance costs and deliver personal advice more efficiently and effectively,” it said.

“For consumers, this means improved access to affordable personal advice that better meets their needs and financial objectives.”




Recommended for you

Author

Comments

Comments

How did this not exist 20 years ago

This wont help anything to do with advice affordability. Address the overly prescriptive compliance regime, the need for advisers to be licensed under the AFSL system, the way AFCA handles complaints.

Useless ASIC twiddling at the edges & fixing nothing of value.
A chat bot ASIC portal will fix nothing.
As SA says, "Address the overly prescriptive compliance regime, the need for advisers to be licensed under the AFSL system, the way AFCA handles complaints".
ASIC are seriously off the planet stuck in Canberra Bubble Bureaucratic Moron Land.
Or
ASIC are intentionally doing next to nothing about 20 years of mass BS over regulation but saying they are helping, when they know they are not.

Agree with comments above. You only have to ask why ASIC thought this was necessary in the first place to realise there are much bigger issues they have directly played a hand in.

Add new comment