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Regulatory Guide 146: Licensing: Training of financial product advisers (RG 146)



This guide is for: This guide sets out minimum training standards that apply to advisers and how advisers can meet these training standards.


Editor’s note:

Effective 24 September 2012, Sections D and E of this guide are under review. The review will enable ASIC to explore options pending final policy positions following from Consultation Paper 153: Licensing: Assessment and professional development framework for financial advisers (CP 153).

See also:
  • changes proposed in Consultation Paper 212 (CP 212) and media release 13-149MR (24 June 2013) where we set out our no-action position in relation to the ASIC Training Register.
  • Consultation Paper 215 (CP 215) which proposes that courses will no longer need to be listed on the ASIC Training Register. Instead, it is proposed that authorised assessors will assess training courses to determine if they meet the training standards in RG 146. See also Media release 13-219MR


Download RG 146 (PDF 451KB)


Document history


This version was issued in July 2012 and is based on legislation and regulations as at the date of issue.

Previous versions:

Related information



Headnotes
ASIC’s knowledge and skill requirements, Australian financial services licence, continuing training of advisers, general insurance companies, insurance brokers, life insurance companies, persons providing financial product advice, training and education standards for advisers

Pro formas
PF 209 Australian financial services licence conditions

Regulatory guides
RG 1–RG 3 AFS Licensing Kit
RG 36 Licensing: Financial product advice and dealing
RG 38 The hawking prohibitions
RG 104 Licensing: Meeting the general obligations
RG 105 Licensing: Organisational competence
RG 165 Licensing: Internal and external dispute resolution
RG 166 Licensing: Financial requirements
RG 167 Licensing: Discretionary powers

Legislation
Corporations Act 2001, Ch 7 Pt 7.1 Div 2, Pts 7.8, 7.9, 10.2, s761A, 761G, 763A(1), 763B–D, 766A(3), 766B(1), 766B(3)–(4), 766B(6)–(7), 1018A, 1434, 1436A(1), regs 7.3.10(a), 7.6.04(d).

Consultation papers and reports
Parliamentary Secretary to the Treasurer, Consultation Paper, Corporate and financial services regulation review (April 2006)
Parliamentary Secretary to the Treasurer, Proposals Paper, Corporate and financial services regulation review (November 2006)
CP 88 Reviewing and updating RG 146: Training of financial product advisers (July 2007)
REP 110 Report on submissions for CP 88 Reviewing and updating RG 146: Training of financial product advisers
CP 153 Licensing: Training and assessment framework for financial advisers

Media releases
IR 07-18 Update on ASIC’s review of financial adviser training standards
IR 07-40 ASIC consults on updating its policy on the training of financial advisers
09-242AD Information for issuers and advisers of margin lending facilities
11-75MR ASIC proposes new training and assessment framework for financial advisers
12-84MR ASIC releases policies on adviser training and financial requirements for carbon financial products
12-146MR ASIC to discuss next phase of financial advisers exam


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Financial services > Ongoing licensee obligations

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