Corporate regulator ASIC has recently released Regulatory Guide 269 (RG 269), which sets out its proposed approach to approving and overseeing compliance schemes for financial advisers.
From Jan. 1, financial advisers would be required to comply with a code of ethics, which would be monitored and enforced by an ASIC-approved compliance scheme. The code is being developed by the Financial Adviser Standards and Ethics Authority (FASEA).
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