Advisers might have full plates, not to mention challenges managing their businesses ongoing during lockdowns and a global pandemic, but they’ve still come a long way getting their heads around the Code and ethical thinking, Griffith University’s Katherine Hunt and Prosperity Financial Services’ Nidal Danoun discuss, while highlighting that the practical implementation of ethics into every day practices might still be lagging.Â
FSC white paper criticised for looking out for the interests of the biggest licensees
The Financial Services Council has proposed ASIC should establish a separate enhanced risk-based supervision function for advice AFSLs, as well as a higher base charge for licensees with the ASIC levy. The Financial Advice Association Australia has already called the recommendations an attack on self-licensed businesses.
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