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Don't follow Australia's lead

Our shiny new Financial Services Legislation Amendment Act, and new Financial Advice Code, are admirably different - so far - to the mess in Australia. I do not casually label Australia's financial advice sector regulation a mess. This article from the Australian Financial Review, by Adele Ferguson, provides plenty of examples of the situation. The situation around educational requirements is worth considering, as there is scope for our requirements to be revised. They probably should be, but the goal should not be to copy the Australian approach, at least not without some evidence that it is working, and is superior to both what we have, and other alternatives. 

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