Original article by Anthony Klan
The Australian – Page: 22 : 3-Dec-14

The Australian Securities & Investments Commission (ASIC) will not go ahead with the proposed Consultation Paper 212 regulations, which were designed to lift the level of professional qualifications to be held by financial planners. ASIC maintains that the decision is due to the Federal Government failing to get amendments to the Future of Financial Advice laws passed by the Senate, making the issue less urgent. However it has emerged that nine industry bodies wrote to the watchdog in 2013 and argued against the push

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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, AUSTRALIAN BANKERS’ ASSOCIATION, FINANCIAL SERVICES COUNCIL, AUSTRALIA. DEPT OF THE TREASURY