Code Committee’s submission: Consultation – Proposed extension of exemptions for Australian Qualified Advisers and Australian Licensees
The Code Committee has submitted on the FMA’s consultation on the proposed extension of the following exemptions until legislative changes in the Financial Services Legislative Amendment Bill come into effect.
Four members of the Code Committee have been reappointed by the FMA. Shane Edmond, Ross Butler, Melanie Biss and Stephen O’Connor have all agreed to extend their term for 3 years or until the Committee is disestablished, whichever occurs earlier. Code Committee members details can be found here.
11 July 2017
Code Committee’s submission: Consultation Paper – Proposed exemption to facilitate personalised robo-advice
The Code Committee has submitted on the FMA’s Consultation Paper that proposes to issue a class exemption to facilitate the provision of personalised robo-advice services. You can find the Committee’s submission here
29 June 2017
Code Committee members reappointed
Two members of the Code Committee have been reappointed by the FMA. David Ireland (Chair) and Gary Young have each agreed to extend their term for 3 years or until the Committee is disestablished, whichever occurs earlier. Code Committee members details can be found here
26 June 2017
The Code Committee notes the decision of the Financial Advisers Disciplinary Committee (FADC) published on 22 June 2017. The decision can be viewed here.
FADC found that the respondent AFA had breached Code Standards 6(b) and 12 in relation to certain aspects of the AFA’s pension transfer service, and had breached Code Standards 6(c) and 12 in relation to one instance of providing insurance advice, but found that no breach had been made out in relation to Code Standards 1, 2, 5, 6(a), or 7-9.
The Code Committee welcomes the FADC’s discussion of these Code Standards, and will consider the comments made by the FADC and their implications when the Code Committee next meets.