CP 305 Organisational competence requirements for advice licensees: Update to RG 105
Released 8 November 2018. Comments close 6 December 2018.
This consultation paper seeks your feedback on our proposals for updating Regulatory Guide 105 Licensing: Organisational competence (RG 105) in light of the professional standards reforms for financial advisers.
We are proposing to:
- add to the existing options in RG 105 for demonstrating the knowledge and skills of responsible managers by introducing new 'Option 6', which will reflect the higher education and training standards for financial advisers
- require advice licensees to have at least one responsible manager who satisfies Option 6.