Compliance The Financial Services Reform Act (2001) mandates that licensees and principals must ensure that their financial product advisers are competent, skilled and experienced, and that they receive adequate training to provide financial services advice. Australian Securities and Investments Commission Regulatroy Guide 146 (ASIC RG 146) sets out minimum training standards for financial product advisers, either at Tier 1 or Tier 2 level, appropriate to the complexity of their activities and their clients’ needs. For further details refer to the ASIC website at www.asic.gov.au. As a Registered Training Organisation (RTO), the Institute’s compliance training programs are listed on the ASIC Training Register. RG146 There are two levels of compliance within ASIC RG 146, Tier 1 and Tier 2. Tier 1 compliance is compulsory for those giving advice in insurance broking, life insurance and superannuation, financial planning, and personal accident and sickness. Tier 2 general insurance compliance is compulsory for those who provide advice on all other general insurance products except personal accident and sickness. RG146 Solutions – ASIC Training Register – Self Assessment Program The Institute has a range of products that will fulfil the requirements for compliance with ASIC RG146 at both Tier 1 and Tier 2 levels. Selected Institute award course modules are aligned to the skills, knowledge and integrity requirements of RG 146 allowing students to study for a qualification while also fulfilling their compliance obligations. To find out if you need to be compliant with ASIC RG 146 please click here.
Institute compliance products and delivery
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