{"id":45996,"date":"2019-08-19T13:08:25","date_gmt":"2019-08-19T03:08:25","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=45996"},"modified":"2019-08-20T17:08:08","modified_gmt":"2019-08-20T07:08:08","slug":"joint-code-monitoring-proposition","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2019\/08\/19\/joint-code-monitoring-proposition\/","title":{"rendered":"Joint Code Monitoring Proposition"},"content":{"rendered":"

Six industry associations have joined forces to create a proposed joint code monitoring body – Code Monitoring Australia (CMA) – which has submitted a proposal to ASIC<\/span> to advance a profession-wide solution to the monitoring of the FASEA Code of Ethics.<\/span><\/p>\n

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FPA CEO, Dante De Gori<\/figcaption><\/figure>\n

The FPA<\/a>, the AFA<\/a> and a consortium of four other professional associations filed a formal submission with ASIC on behalf of CMA.<\/span><\/p>\n

The submission provides an actionable solution to the 15 November 2019 deadline when all financial planners\/advisers are required to subscribe to an approved code monitoring body.<\/span><\/p>\n

CMA was established in late 2018 as an independent body to monitor and enforce compliance with the FASEA Code of Ethics that comes into effect from 1 January 2020.<\/span><\/p>\n

FPA CEO,\u00a0Dante De Gori<\/strong><\/span>, says they have provided what they believe is a detailed and well-considered solution to ASIC. <\/span><\/p>\n

\u201cThe decision is now with them, but given how tight the timeline is until November we\u2019re preparing as much as we can in readiness for a green light, just in case,\u201d De Gori said, confirming CMA has also commenced advertising roles for the Compliance Scheme Governing Body via Seek.<\/span><\/p>\n

CMA is a wholly owned subsidiary of the FPA, the AFA and the four other professional associations currently participating in CMA, which include: <\/span><\/p>\n