In an update to RG146, Consultation Paper 215: Assessment and approval of training courses for financial product advisers: Update to RG 146, the regulator said it considers it is “time that ASIC step back from the role of approving training courses in relation to financial product advice”.
ASIC proposes to replace the training register with a new draft that will permit registered training organisations (RTOs) and self-accrediting organisations (SAOs) to self-assess their own courses as authorised assessors.
RTOs and SAOs and professional or industry associations accredited by ASIC will be able to assess courses delivered by other training course providers under the proposals.
ASIC said it would retain the existing training register as a reference tool for AFS licensees and advisers who have completed courses that were on the ASIC Training Register on 24 September 2012.
The regulator said the training register “did not add the value or quality assurance that it was perceived to add”.
