ASIC Regulatory Guide 146: Licensing: Training of financial product advisers
ASIC has set minimum standards for the training of financial product advisers (training standards): see RG 146.1, ĂÂRG 146.3. The training standards are sets of knowledge and skill requirements that vary depending on the adviser activities: see RG 146.6, ĂÂRG 146.7 and Section C. All natural persons who provide financial product advice to retail clients must meet the training standards, unless they fall within certain limited exemption categories: see RG 146.4, ĂÂRG 146.5 and Section B. In general, advisers will meet the relevant training standards by satisfactorily completing training courses assessed as meeting the training standards by an authorised assessor and listed on the ASIC Training Register. As an alternative, experienced advisers can demonstrate their competence through individual assessment by an authorised assessor: see RG 146.8, ĂÂRG 146.13 and Sections D,ĂÂE. Licensees must implement policies and procedures to ensure that they and their advisers undertake continuing training: see RG 146.14, ĂÂRG 146.15 and Section F.
Sector(s):
- Financial
Jurisdiction(s):
- Australia
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