2017 FPA Professionals Congress

Licensees in crosshairs of ASIC’s lead generation crackdown

ASIC says advice licensees that use or allow lead generators may be putting their licences at risk as it issues a “final warning” as part of its response to the collapse of Shield and First Guardian. Activist group Super Consumers Australia concedes the practice is not mainstream in the advice profession but has called for an outright ban that goes beyond the regulator’s activity.