{"id":83444,"date":"2026-07-30T16:32:06","date_gmt":"2026-07-30T06:32:06","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=83444"},"modified":"2026-08-05T15:44:41","modified_gmt":"2026-08-05T05:44:41","slug":"faaa-calls-out-fsc-on-tougher-advice-licensing-agenda","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2026\/07\/30\/faaa-calls-out-fsc-on-tougher-advice-licensing-agenda\/","title":{"rendered":"FAAA Calls Out FSC on Tougher Advice Licensing Agenda"},"content":{"rendered":"<p>The FAAA has moved quickly to question one of the key recommendations made in the FSC&#8217;s recently-released white paper on the Future of Advice Licensing (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2026\/07\/30\/fsc-calls-for-tougher-asic-oversight\/\" target=\"_blank\" rel=\"noopener\">FSC Calls for Tougher Oversight on AFSLs<\/a>).<\/p>\n<figure id=\"attachment_75332\" aria-describedby=\"caption-attachment-75332\" style=\"width: 150px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2025\/01\/Sarah-Abood.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-75332 size-full\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2025\/01\/Sarah-Abood.jpeg\" alt=\"Sarah Abood.\" width=\"150\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-75332\" class=\"wp-caption-text\">FAAA CEO, Sarah Abood &#8230;moved quickly to distance the FAAA from supporting some elements of the FSC&#8217;s Future of Advice Licensing White Paper<\/figcaption><\/figure>\n<p>In a statement from FAAA CEO, <strong>Sarah Abood<\/strong>, the CEO notes her association will be reviewing the FSC\u2019s proposals carefully, but it expects the proposals will not be well received by smaller advice licensees who Abood cautions would be hit hard by increased regulatory intervention and ASIC costs under the proposals, one of which includes imposing a minimum $25,000 ASIC financial advice levy to fund the recommended supervisory uplift.<\/p>\n<blockquote><p>The FSC does not represent financial advice&#8230;<\/p><\/blockquote>\n<p>&#8220;It\u2019s important to be aware of the context of these recommendations,&#8221; says Abood, adding &#8220;The FSC does not represent financial advice, or financial advisers. It represents the interests of five large advice licensees, with the vast majority of its membership being made up of large product issuers (such as managed investment schemes). Its proposals should be considered in this light.\u201d<\/p>\n<p>Riskinfo will report further industry reaction and debate on the FSC&#8217;s White Paper, which at its core represents a clear move from recommending &#8220;structural reform&#8221; to recommending &#8220;supervision-led reform.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FAAA has moved quickly to question one of the key recommendations made in the FSC&#8217;s recently-released white paper on the Future of Advice Licensing (see: FSC Calls for Tougher Oversight on AFSLs). In a statement from FAAA CEO, Sarah Abood, the CEO notes her association will be reviewing the FSC\u2019s proposals carefully, but it [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":83451,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,7734],"tags":[],"class_list":["post-83444","post","type-post","status-publish","format-standard","has-post-thumbnail","category-associations","category-compliance-regulation","category-featured"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/83444","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=83444"}],"version-history":[{"count":5,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/83444\/revisions"}],"predecessor-version":[{"id":83470,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/83444\/revisions\/83470"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/83451"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=83444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=83444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=83444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}