Licensees and advisers need to be prepared for the launch of the government’s financial adviser register [FAR] in coming weeks, commercial law firm Gadens has warned.
In a post on the firm’s website, financial planning licensees are advised they need to be ready for the launch of the register on March 31.
“If you are an AFS licensee you need to sign up to ASIC Connect now to check the details of existing authorised representative appointments and notify ASIC of any other financial advisers appointed by you by 30 March 2015,” the law firm advised.
“Information from the existing Authorised Representatives Register will be used by ASIC to pre-populate listings on the FAR for licensees to check.
“There is currently no fee payable to change the details of an Authorised Representative on the FAR. Details about any other natural person advisers, such as employee representatives and director representatives, will need to be provided for the FAR.
“Advisers who are natural person licensees will also need to sign up to ASIC Connect and link their licence to their ASIC Connect account.”
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