{"id":56998,"date":"2021-08-03T19:27:46","date_gmt":"2021-08-03T09:27:46","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=56998"},"modified":"2021-08-03T19:31:30","modified_gmt":"2021-08-03T09:31:30","slug":"latest-poll-funding-adviser-oversight","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2021\/08\/03\/latest-poll-funding-adviser-oversight\/","title":{"rendered":"Latest Poll &#8211; Funding Adviser Oversight"},"content":{"rendered":"<div id=\"polls-260\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Do you agree that advisers should contribute to the cost of funding ASIC\u2019s regulatory oversight of the financial advice sector, as long as the costs are equitable?<\/strong><\/div><div id=\"polls-260-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>No <small>(82%)<\/small><div class=\"pollbar\" style=\"width: 82%\" title=\"No (82% | 111 Votes)\"><\/div><\/li>\n\t\t<li>Yes <small>(16%)<\/small><div class=\"pollbar\" style=\"width: 16%\" title=\"Yes (16% | 21 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(2%)<\/small><div class=\"pollbar\" style=\"width: 2%\" title=\"Not sure (2% | 3 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_260_nonce\" name=\"wp-polls-nonce\" value=\"1c1efbf155\" \/>\n<\/div>\n\n<p>Our latest poll seeks your view on whether advisers should self-fund the cost of the regulatory oversight of their activities \u2013 on the condition that the cost they\u2019re required to pay is fair and equitable.<\/p>\n<p>Over the last week, adviser associations have railed against ASIC\u2019s 2020\/21 cost recovery estimates for the financial advice sector, leaving ASIC and the Government in no doubt as to what the associations believe is a cost structure that is variously referred to as unfair, inequitable, unsustainable and unconscionable.<\/p>\n<p>Even under this spotlight, however, the associations themselves concede their issue is with the structure of the funding requirements and who should be contributing, rather than with the principle of the user-pays system that underpins the funding:<\/p>\n<p><a href=\"https:\/\/riskinfo.com.au\/news\/2021\/08\/03\/call-for-banks-to-share-asic-funding-levy-costs\/\" target=\"_blank\" rel=\"noopener\">Call For Banks to Share ASIC Funding Levy Costs<\/a><\/p>\n<p><a href=\"https:\/\/riskinfo.com.au\/news\/2021\/07\/27\/adviser-associations-slam-asic-funding-levy-increase\/\" target=\"_blank\" rel=\"noopener\">Adviser Associations Slam ASIC Funding Levy Increase<\/a><\/p>\n<p>ASIC points out that as a regulator, its annual budget is set by the government of the day, and it is required to advise its master how it will recover the cost of its activities from each of the subsectors it regulates; financial advice being one of those subsectors.<\/p>\n<p>As we\u2019ve reported, the issue since ASIC\u2019s release of its 2020\/21 estimates has been one of fairness in respect to who should and should not be included in the cost recovery collection. But everyone seems to be on the same page when it comes to the principle of user-pays \u2013 as long as it\u2019s fair.<\/p>\n<p>Do you agree with this? Should you be required to stump-up your fair share for the cost of ASIC&#8217;s work in the financial advice sector? Or do you believe the cost of the regulator\u2019s oversight activities in this sector should be funded from elsewhere?<\/p>\n<p>Tell us what you think and we\u2019ll report back next week\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our latest poll seeks your view on whether advisers should self-fund the cost of the regulatory oversight of their activities \u2013 on the condition that the cost they\u2019re required to pay is fair and equitable. Over the last week, adviser associations have railed against ASIC\u2019s 2020\/21 cost recovery estimates for the financial advice sector, leaving [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":57002,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,49],"tags":[],"class_list":["post-56998","post","type-post","status-publish","format-standard","has-post-thumbnail","category-associations","category-compliance-regulation","category-polls"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/56998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=56998"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/56998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/57002"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=56998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=56998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=56998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}