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RG146
Regulatory Guide 146 (RG 146) on Training of financial product advisers, formerly known as policy statement 146 (PS 146) is an Australian financial regulation issued by the Australian Securities & Investments Commission (ASIC) related to the minimum training required by individuals selling financial products. When used in the context of describing an individual it means that such an individual has completed relevant training and passed an exam recognised as meeting RG 146 criteria and is then able to provide advice on financial products to the general public in Australia. All individuals must meet the RG 146 requirements before they can sell financial products in Australia to the general public, this includes up-to-date ongoing training through a continuous professional development (CPD) program. History Policy Statement 146 (PS146) was introduced under the ''Financial Services Reform Act 2001 (FSR Act)''. It prescribes adequate levels of training, competence, and experience f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Regulation
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that involve retail clients and/or principal–agent problems. An integral part of financial regulation is the supervision of designated financial firms and markets by specialized authorities such as securities commissions and bank supervision, bank supervisors. In some jurisdictions, certain aspects of financial supervision are delegated to self-regulatory organizations. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law. History In the early modern period, the Dutch were the pioneers in finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Securities & Investments Commission
The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC, which reports to the treasurer, was established on 1 July 1998 following recommendations from the Wallis Inquiry. Areas of responsibility ASIC's authority and scope are determined by the ''Australian Securities and Investments Commission Act 2001''. ASIC's areas of responsibility include: *corporate governance *financial services *securities and derivatives *insurance *consumer protection *financial literacy ASIC's consumer websitwww.moneysmart.gov.auwas launched on 15 March 2011. MoneySmart replaced ASIC's two previous consumer websites, FIDO and Understanding Money. MoneySmart aims to help people make good financial decisions by providing free, independent and unbiased inform ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Products
Financial services are economic services tied to finance provided by financial institutions. Financial services encompass a broad range of service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, risk instruments, and brokerage for large public companies and multinational corporations at a macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many types of broker, and some government-sponsored enterprise. Financial services include accountancy, investm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Continuous Professional Development
Professional development, also known as professional education, is learning that leads to or emphasizes education in a specific professional career field or builds practical job applicable skills emphasizing praxis in addition to the transferable skills and theoretical academic knowledge found in traditional liberal arts and pure sciences education. It is used to earn or maintain professional credentials such as professional certifications or academic degrees through formal coursework at institutions known as professional schools, or attending conferences and informal learning opportunities to strengthen or gain new skills. Professional education has been described as intensive and collaborative, ideally incorporating an evaluative stage.Speck, M. & Knipe, C. (2005) ''Why can't we get it right? Designing high-quality professional development for standards-based schools''(2nd ed.). Thousand Oaks: Corwin Press There is a variety of approaches to professional development or profes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Institute Of Technology
Sirindhorn International Institute of Technology ( Thai: สถาบันเทคโนโลยีนานาชาติสิรินธร) (SIIT) is a semi-autonomous institute of technology established in 1992 within Thammasat University. It is located in Pathum Thani, Thailand. One of Thailand's research universities, it offers science, technology and engineering education, as well as related management programs. All are international programs, with English language as a medium of instruction. The institute is part of the Links to Asia by Organizing Traineeship and Student Exchange network, an international consortium of universities in Europe and Asia. Although it is an academic unit of Thammasat University and its graduates receive Thammasat University degrees, the institute is self-administered and self-financed. Since it is a research-focused academic institution, the academic year 2003 performance evaluation showed has the highest number of research publication ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collective Investment Scheme
An investment fund is a way of investment, investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to: * hire professional investment managers, who may offer better returns and more adequate risk management; * benefit from economies of scale, i.e., lower transaction costs; * increase the asset diversification (finance), diversification to reduce some unsystematic risk. It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management. Terminology varies with country but investment funds are often referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or simply funds. The regulatory term is undertaking for collective investment in transferable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than Equity (finance), equity and fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., Warrant (finance), equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic (Dematerialization (securities), dematerialized) or "book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derivative (finance)
In finance, a derivative is a contract between a buyer and a seller. The derivative can take various forms, depending on the transaction, but every derivative has the following four elements: # an item (the "underlier") that can or must be bought or sold, # a future act which must occur (such as a sale or purchase of the underlier), # a price at which the future transaction must take place, and # a future date by which the act (such as a purchase or sale) must take place. A derivative's value depends on the performance of the underlier, which can be a commodity (for example, corn or oil), a financial instrument (e.g. a stock or a bond), price index, a price index, a currency, or an interest rate. Derivatives can be used to insure against price movements (Hedge (finance)#Etymology, hedging), increase exposure to price movements for speculation, or get access to otherwise hard-to-trade assets or markets. Most derivatives are price guarantees. But some are based on an event or p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of thos ... between an insurance policy holder and an insurance , insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Superannuation
A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "Defined benefit pension plan, defined benefit plan", where defined periodic payments are made in retirement and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or a "defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "Retirement plans in the United States, retirement plan" and "Superannuation in Australia, superann ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compliance Training
Compliance training refers to the process of educating employees on laws, regulations and company policies that apply to their day-to-day job responsibilities. An organization that engages in compliance training typically hopes to accomplish several goals: (1) avoiding and detecting violations by employees that could lead to legal liability for the organization; (2) creating a more hospitable and respectful workplace; (3) laying the groundwork for a partial or complete defense in the event that employee wrongdoing occurs despite the organization's training efforts; and (4) adding business value and a competitive advantage. Purpose Organizations offer their employees compliance training on a wide range of topics, including workplace discrimination and harassment, dealings with competitors, insider trading, protecting trade secrets, records management, bribery and kickbacks, etc. Typically, most or all of these compliance topics are addressed in an organization's Code of Conduct, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Planner
A financial planner or personal financial planner is a qualified financial advisor. Practicing in full service personal finance, they advise clients on investments, insurance, tax, retirement and estate planning. As a general rule, a financial planner’s work can: * integrate into the range of professional services (eg: lawyer, accountant); or * integrate into the offer of a range of financial products and services (eg: financial advisor, insurance agent); or * not be integrated into other products or services, providing stand alone financial planning. Scope Financial planning should cover all areas of the client's financial needs and should result in the achievement of each of the client's goals as required. The scope of planning would usually include the following: * Financial risk management, Risk management and insurance planning: managing cash flow risks through sound risk management and insurance techniques * Investment and planning issues: planning, creating and man ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
