ASIC creates web page dedicated to advice

ASIC President Joe Longo

The business regulator has published a new webpage on its website specifically dedicated to financial advice, which has the stated objective of “consolidating and centralizing all content related to financial advice” for AFSLs, advisers and affiliates.

The new financial advice page – which can be found under the ‘Regulatory Resources’ tab on the ASIC home page – is a basic central site in its initial phase, with links to pages explaining how the ASIC regulates financial advice, advisor obligations, training requirements, and other areas of information.

“This centralized web page is a single point of access for relevant advice and information impacting financial advisory licensees, advisers and relevant stakeholders,” said ASIC.

The development of the page appears to be the direct result of comments as part of the consultation process for consultation document 332 Promote access at affordable prices consumer advice, where 466 submissions were received from advisers, licensees and other stakeholders.

Areas of concern covered during the consultation included limited advice, cost advice, ASIC advice, digital advice, and strategic advice.

“We developed the Hub in response to industry feedback that ASIC’s advice was hard to come by,” said ASIC.

“The Financial Advisors webpage is just one of many initiatives we have planned in response to calls to better assist licensees and advisors in their efforts to provide high quality, affordable personal advice to consumers. “

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