Tier 1 & Tier 2 Advisers – Becoming ASIC RG146 Compliant
Anyone giving financial product advice under an Australian Financial Services Licence (AFSL) must satisfy ASIC's training standards as detailed in Regulatory Guide 146 Licensing: Training of Financial Product Advisers (RG146). The training standards comprise both knowledge and skills. ASIC generally define Tier 1 training as "Diploma" level; and Tier 2 as "certificate III" level training in the specific content fields as listed in RG146. Units of competency have been developed to address these ASIC requirements so they can be delivered within relevant qualifications.
Tier 2 licensing requirements for RG146 in relation to competence and training for advisers does not need to be a headache. The College has a number of options that can be easily tailored to fulfil your RG146 compliance obligations, and in some cases will be paid for under government funded programs.
The College has Tier 2 accreditation programs that address different the following product ranges:
• Basic Deposit Products
• Non-cash payment Facilitates and
• General Insurance