Platforms to unleash greater monitoring of advisers and MISs
Platforms will be required to monitor licensee business models and “adverse media findings” of advisers in a new standard released by the Financial Services Council that also enhances monitoring of managed investment schemes. The changes have been applauded by Minister for Financial Services Daniel Mulino who says it’s positive to see industry self-regulation in the aftermath of the $1 billion Shield and First Guardian collapse.
Regulation