Approvals of financial advice licence applications will likely be affected if recommendations from an ASIC taskforce are implemented, according to a consultant.
The new considerations come as a result of recommendations from the ASIC Enforcement Review Taskforce and will impact the future assessment of licence applications, The Fold Legal’s Sónia Cruz said in a blog.
If these are adopted, Ms Cruz said ASIC may be able to:
“If you’re preparing or resubmitting your licence application, we suggest having it reviewed before you submit it to ASIC. This includes ensuring you have all the core, complex product and additional proofs you require and that your responsible managers meet ASIC’s requirements,” Ms Cruz said.
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].
Companies, investors and other stakeholders have been urged to provide feedback on draft sustainability reporting standards.
The corporate regulator said the adviser failed to prioritise his clients’ interests over his own.
Registrations have opened for the New Broker Academy, a free event set to help financial advisers who want to switch to a career in mortgage and finan...
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.