What is Consultation Paper 212 and how does it affect general insurance advisers?
On 24 June 2013, the Australian Securities and Investments Commission (ASIC) released a consultation paper proposing changes to the training standards for financial product advisers. ‘Consultation Paper 212 Licensing: Training of financial product advisers – Updates to RG 146’ (CP 212) outlines proposed changes to the training standards that are set out in ‘Regulatory Guide 146 Licensing: Training of financial product advisers’ (RG 146).
CP 212 retains the current training requirements in RG 146 as ‘base-level standards (Regime A) and introduces two further regimes of training to come out in 1 January 2015 and 1 January 2019 (Regimes B and C). Comments are due on the consultation paper on 30 September 2013 and the regulatory guide is scheduled to be released in April 2014.
This note provides a summary of the proposals and any changes that are specific to general insurance advisers…
If you are registered and logged in to the site, click on the link below to read the rest of the King & Wood Mallesons briefing. If not, please register or sign in with your details below.
News from King & Wood Mallesons
News from The Lawyer
Briefings from King & Wood Mallesons
The assistant treasurer was quizzed recently about the timetable for his Future of Financial Advice changes.
High Court decides: liquidators of insolvent landlords can disclaim leases with the effect of extinguishing the tenant’s leasehold interest
In Willmott Growers Group Inc v Willmott Forests Limited, the majority of the High Court upheld the Victorian Court of Appeal’s conclusion that the liquidators of an insolvent landlord can disclaim a lease.
Analysis from The Lawyer
All-encompassing change is now a reality for the UK’s top 200 firms. How are they coping with the unprecedented upheaval? The Lawyer finds out