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Financial advisers are required to register with the ASIC Financial Services and Credit Panel in addition to being on the Financial Adviser Register, the corporate regulator has confirmed. Speakin
Understanding and fixing regulatory uncertainty and licensee caution has been a subject discussed at length within the advice community in recent years, with AFCA saying it isn't surprised by the level of fear in the industry when it comes to ASIC.
ASIC will create an entirely new body to monitor and review the way it regulates the industry, with a focus on minimising the kind of costs that have seen the adviser levy increase 236 per cent in three years.
Professional Planner editor Matt Smith speaks with ASIC's Leah Sciacca ASIC has defended the 30 per cent projected adviser levy increase, with acting senior executive leader for financial advisers Leah Sciacca detailing some of the enforcement, surveillance and project work behind the costings at the Professional Planner Best Practice Forum Tuesday afternoon. The projected increase in the levy was top of the agenda for the session, with Sciacca saying the regulator “recognises, obviously” that the $3,138 estimate of the graduated component is an increase on the actual $2,426 charged las...