ASIC has published an updated Regulatory Guide 263 about the Financial Services and Credit Panel which provides a single, central disciplinary body for financial advisers.
RG 263 provides an overview of the purposes and composition of the FSCP, an outline of the actions a sitting panel may take, as well as the FSCP’s processes and procedures around hearings, decisions and confidentiality.
ASIC has also published Information Sheet 273 FSCP decisions: Your rights (INFO 273) outlining
the rights of financial advisers affected by an FSCP decision, including how to make an application to vary or revoke FSCP decisions and how to seek an independent review of FSCP decisions.
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Author: David Jacobson
Principal, Bright Corporate Law
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
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