ASIC reviews PS 146 on financial services training

ASIC has announced it is conducting a review of its policy on retail financial adviser training standards (Policy Statement 146 Licensing: training of financial product advisers).

ASIC is not planning to fundamentally revisit the current training standards.

It anticipates that the review will focus on:

• the appropriateness of current training standards towards the perimeter of the financial advice regime, and in particular, the appropriateness of the current standards for providers of general advice and providers of advice on general insurance products;
• the description of the knowledge and skills categories in Appendix A of the policy (e.g. whether the categories should be broken down into a larger number of narrower categories);
• the administration and ease-of-use of ASIC’s training register (including how courses are placed onto the register); and
• recognition of prior study and training.