Code Will Apply But Monitoring Obligations On Hold

Questions remain regarding the implementation of FASEA’s code of ethics, with adviser groups continuing to push for a delay to the January 1st starting date because of key issues that are yet to be clarified. Meanwhile, ASIC announced that licensees would not be in breach of the law if their advisers were not able to register with an ASIC-approved compliance scheme by the same date. However - they will have to ensure advisers comply with the code.