Actions taken and achievements gained on your behalf by SAFAA during your last membership year
- additional time to sit and pass the FASEA exam
- a waiver of the three-month registration requirement so that advisers who fail the September FASEA exam can sit the November exam
- relief from unsustainable increases in the ASIC funding levy for the financial advice sector, with a freeze of the ASIC levy at 2018/19 levels for two years
- a review of the ASIC industry funding model
- a reasonable approach from ASIC to regulatory compliance in our industry that takes into account the multiple regulatory reforms coming into effect in October 2021 and the impact of COVID-19 lockdowns
- removal of the ‘nil complaints’ reporting requirement for distributors under the Design and Distribution Obligations regime
- confirmation of SAFAA members as ‘essential services’ during lockdowns.
- lodged 29 submissions to ASIC, Treasury, ASX, FASEA, TPB, AFCA, Parliament and other stakeholders
- attended over 75 government and stakeholder meetings and roundtables and
- given evidence to three Parliamentary committees.
SAFAA has also:
- engaged with industry on how best to provide access to affordable advice
- continued to advocate for the exclusion of complaints from wholesale clients from AFCA’s jurisdiction
- engaged with ASX on the CHESS replacement project
- engaged with ASIC on the November 2020 ASX market outage
- continued to challenge Standards 3 and of the FASEA Code of Ethics.
- regular free webinars to meet FASEA and TPB CPD requirements and keep up to date with regulatory changes
- a hybrid conference geared to the issues of relevance to our members both in terms of current regulatory challenges and future trends that will shape business models.
- CPD in those hard-to-achieve FASEA categories of Client care and practice and Professionalism and ethics
- professional development workshops developed to ensure the practical application of new skills and knowledge