Code Confusion Rife

The major advice member associations, the FPA and AFA have continued their calls for a delay in the implementation of the FASEA ethics code, which is due to take effect on January 1 next year. With further guidance around the code resulting from recent consultations yet to be released, the argument is the lack of clarity and late guidance will make it too hard for advisers to be compliant. The recent “monitoring relief” offered to licensee’s does not change the fact that currently, advisers will still have to be code compliant at the start of next year.