Individual licensing: Be careful what you wish for
Have you noticed how every other day it seems there is a new call for advisers to be individually licensed, as if individual licensing is a panacea to the industry’s current ills?
The thinking appears to be that, because advisers will, under an individual licensing regime, be directly regulated by ASIC instead of indirectly via a licensee and then ASIC as currently, this will somehow (it is unclear how – perhaps osmosis?) positively impact advisers’ conduct and result in compliant advice and practices.
Read the full article in Financial Observer
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November 4, 2019