The corporate watchdog has called for industry and consumer comments on the education of financial advisers.
In November 2006, the Parliamentary Secretary to the Treasurer Chris Pearce published the Corporate and Financial Services Regulation Review Proposals Paper.
The paper announced ASIC would review training for financial advisers to address concerns about the appropriateness of education standards, recognition of prior study and training and the quality of courses.
"We do not propose to fundamentally rethink our policy on the training of financial product advisers," ASIC executive director of regulation Malcolm Rodgers said.
"The main focus of this review is to examine changes to the administration of our policy to facilitate flexibility in the training requirements.
"We encourage all advisers, licensees and consumers with an interest in the training standards of financial product advisers to comment on the issues and proposals we have identified."
ASIC is seeking alternative proposals to address issues raised in the consultation paper, Rodgers said.
The consultation paper 'Reviewing and updating RG 146: Training of financial product advisers' was released yesterday.
It follows the Australian Government's Corporate and Financial Services Regulation Review and is part of ASIC's regular process of updating of its published guidance.
Submissions on the consultation paper can be sent to [email protected].
