ASIC has released an updated version of Regulatory Guide 146: Licensing: Training of financial product advisers (RG 146). RG
146 sets out the minimum training standards for financial product
advisers and explains how advisers can meet these training standards.
After a review, ASIC has decided to:
- amend RG 146 to facilitate more tailored and
flexible training requirements for some products that are relatively
straightforward and do not involve an investment component (Tier 2
- maintain the current requirements that
advisers be trained across the range of products within existing
specialist knowledge categories;
- maintain the existing policy on the recognition of prior study and training;
- amend RG 146 to clarify ASIC’s capacity to deal with non-compliant courses;
- improve the currency of the information on
the ASIC Training Register by requiring course providers to
periodically re-register courses; and
- clarify some aspects of ASIC’s policy and re-write it in the new regulatory guide format.