In the JANUARY 2021 Edition of our FASEA Standards Newsletter, we discuss:
89.5% of Financial Advisers have PASSED Exam
Over 12,573 advisers have sat the exam with almost 90% demonstrating the knowledge of advice construction, ethics & legal requirements examined.
Regulatory Framework to be Simplified
FASEA will be wound up and its function split between the Financial Services and Credit Panel (FSCP) within ASIC, & its standard-making functions moving to Treasury.
ASIC releases technical updates to RG246
The end of grandfathered commissions – product issuers must rebate to clients all previously grandfathered benefits (commissions) that they remain legally obliged to pay on or after 1 January 2021.
Read the full FASEA Standards Newsletter (JANUARY 2021 Edition)