FASEA finalises provisional adviser definition

The Financial Adviser Standards and Ethics Authority has registered the final legislative instrument around the definition of provisional relevant providers of financial advice.

In releasing the provisional Relevant Providers Expressions Determination 2018, FASEA has determined the final expressions to be used for a provisional relevant provider as “provisional financial adviser” or “provisional financial planner”, which may be used interchangeably.

FASEA also released the explanatory statement to go alongside the legislative instrument.

It said the legislative instrument was informed through consultation with stakeholders in July and August 2018 and through seven formal submissions received during FASEA’s consultation process in November 2018.

The instrument has been registered on the Federal Register of Legislation.

“We thank stakeholders for their input during the consultation process for FASEA’s provisional relevant provider expressions determination,” said FASEA chief executive Stephen Glenfield.

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FASEA finalises provisional adviser definition
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Adrian Flores

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].

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