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Risk & Compliance: updates and things you need to know

Risk & Compliance: updates and things you need to know

Hooria Goodarzi
Financial Services Risk and Compliance Specialist
Hooria Goodarzi
Financial Services Risk and Compliance Specialist

Risk & Compliance: updates and things you need to know

Hooria Goodarzi is a risk and compliance specialist who knows the Code of Ethics inside and out.

In this session, Hooria broke down each of the twelve CoE’s standards in a simple, easy to understand manner and used real-life scenarios to demonstrate how an adviser can navigate the Code of Ethics, the Corporations Act 2001, the Privacy Act, TASA and AML/CTF to ensure they are providing FASEA-compliant advice to clients.

A really good point Hooria raised is that you can be providing compliant advice, without it being ethical. You can also provide advice that is ethical, without it being compliant.

Hooria also covered the latest Royal Commission legislation for FDS, OSA and FSG changes going into effect from 1 July 2021.

The key changes are:

  • FSGs must include written disclosure that you are not “independent, impartial or unbiased”
  • FDSs must include forward-looking disclosure as well as the current backward-looking disclosure; and
  • All Ongoing Fee Arrangements must be renewed by the client each year.

Connect with Hooria in the XY Platform HERE

Check out Hooria’s LinkedIn HERE

Visit Hooria’s website HERE

01/07/2021 ago

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Hooria Goodarzi is a risk and compliance specialist who knows the Code of Ethics inside and out.

In this session, Hooria broke down each of the twelve CoE’s standards in a simple, easy to understand manner and used real-life scenarios to demonstrate how an adviser can navigate the Code of Ethics, the Corporations Act 2001, the Privacy Act, TASA and AML/CTF to ensure they are providing FASEA-compliant advice to clients.

A really good point Hooria raised is that you can be providing compliant advice, without it being ethical. You can also provide advice that is ethical, without it being compliant.

Hooria also covered the latest Royal Commission legislation for FDS, OSA and FSG changes going into effect from 1 July 2021.

The key changes are:

  • FSGs must include written disclosure that you are not “independent, impartial or unbiased”
  • FDSs must include forward-looking disclosure as well as the current backward-looking disclosure; and
  • All Ongoing Fee Arrangements must be renewed by the client each year.

Connect with Hooria in the XY Platform HERE

Check out Hooria’s LinkedIn HERE

Visit Hooria’s website HERE