Update to Code of Ethics Guidance Release
Further to the recent (18 October 2019) release of FG002 Guidance to the Code of Ethics, the Financial Adviser Standards and Ethics Authority wishes to confirm the first consultation with designated representatives of consumer, professional, education and other industry groups commence November 12, 2019.
The purpose of these sessions is to provide opportunity for consultation on the practical elements of the Code, and to communicate and explain the integrated nature of the Code.
The consultation is consistent with FASEA’s previous broad stakeholder-based approach, and will continue throughout the following month.
FASEA wrote to industry professional stakeholders on 22 October 2019, inviting participation in the Consultation, outlining the following:
“To coincide with the release of the Guidance, FASEA will hold a series of consultation briefing sessions with stakeholders to share FASEA’s Guidance on the COE (with particular emphasis on the integrated nature of the Code), how it is expected to be operationalised and how to use the COE Guidance as a tool to facilitate understanding of the practical application of the Code.
It is intended FASEA will present an overview to stakeholder participants and workshop a number of examples in the Guidance to assist stakeholders to have a consistent understanding of the operation of the Code and its impact on advisers.
It is proposed stakeholder participants will have the opportunity to discuss the presentation and to provide their consultation feedback on the Guidance.”
The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.