CP 153 Licensing: Assessment and professional development framework for financial advisers

Released 6 April 2011. Comment closed 1 June 2011.

This consultation paper seeks feedback on our proposed assessment and professional development framework for financial advisers in Australia. The proposed framework is intended to enhance and maintain the competence of financial advisers, lead to improvements in the quality of advice and increase consumer confidence.

The paper includes an outline of the current training and competence requirements for financial advisers under Regulatory Guide 146 Licensing: Training of financial product advisers (RG 146), informal consultation we have undertaken and a proposed three-stage assessment and professional development framework.

Our proposals may be of interest to existing and new financial advisers, Australian financial services (AFS) licensees, authorised representatives, training organisations and consumers of financial advice.

Download the paper (PDF)  | Read the media release

  Submissions

1

ANZ

2

Association of Financial Advisers Ltd

3

Association of Superannuation Funds of Australia Ltd

4

Australian and New Zealand Institute of Insurance and Finance

5

Australian Bankers' Association

6

Australian Financial Markets Association

7

Australian Institute of Financial Services and Accounting Pty Ltd

8

Australian Institute of Superannuation Trustees

9

Bell Potter Securities

10

Bruining, Nick

11

CFA Society of Sydney

12

CPA, ICAA and IPA (the Joint Accounting Bodies)

13

Deloitte Touche Tohmatsu

14

Ernst & Young

15

FIIG Securities Limited

16

Financial Education Professionals

17

Financial Ombudsman Services Limited

18

Financial Planning Association

19

Financial Review Professional Education

20

Financial Services Council

21

Financial Services Institute of Australasia

22

Financial Services School

23

Grant Samuel and Associates Pty Ltd

24

Houterman, Beverly | Addendum

25

IG Markets Ltd

26

IOOF

27

Innovation and Business Skills Australia

28

Insurance Council of Australia

29

Kaplan Professional

30

Mentor Education Group

31

MLC

32

National Information Centre on Retirement Investments Inc.

33

National Insurance Brokers Association

34

Plan B Group Holdings

35

Professional Investment Services Pty Ltd

36

Q Invest

37

Rigoni, Maria

38

Stockbrokers Association of Australia

Last updated: 06/04/2011 12:00