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Financial Planning Regulations
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Regulations relating to membership of the Financial Planning Chapter for practising members are set out in Regulations (R10) 
 
These regulations and requirements include: 

  • entry
    •  
  • conditions
    •  
  • annual fees
    •  
  • ongoing training
 
APS 12 - Statement of Financial Advisory Service Standards 
 
APS 12 
 
The Institute of Chartered Accountants in Australia and CPA Australia issued the statement of Financial Advisory Service Standards (“APS 12”) which became operative on 1 November 2005. 
 
APS 12 covers the professional aspects of financial advice undertaken by a member, whether they are an AFS licensee or a representative in the provision of financial services under the Corporations Act (2001), or give financial advice which is not subject to licensing requirements. 
 
Members also have the responsability to be familiar with all the other standards and By-laws applicable. 
 
Guide to APS 12 
 
This Guide is jointly issued by the Institute and CPA Australia to assist members to comply with the requirements of APS 12 – Statement of Financial Advisory Service Standards.  
 
APS 12 Notification Form 
 
Under APS 12, members must notify the Institute and/or CPA Australia when they:  
  1. Commence the holding of an AFS License;  
  2. Cease to hold an AFS License;  
  3. Become a Representative/Authorised Representative of an AFS Licensee; or  
  4. Cease as a Representative/Authorised Representative of an AFS Licensee
 
 
Australian Securities & Investments Commission (ASIC) 
 
ASIC FSR Homepage 
 
Training of financial product advisers 
 
Australian Financial Services Licence 
 
Australian Securities & Investments Commission FAQs 
 
 
For more information on financial services regulation and unlicensed, please refer to Financial Services Regulations(FSR).