Lifting standards without legislation

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ASIC’s proposal to remove the training register has been supported by Kaplan, which agrees that being the regulator of training courses should not be their role or function.

Kaplan Professional general manager Brian Knight says that the removal would measure the importance of licensees recruiting people who have completed training courses from reputable providers, and is confident that most licensees will embrace the change.

“By now, most licensees know which courses are rigorous and effective in preparing advisers for the role and which ones are superficial and not thoroughly assessed,” he says. “They will not be able to just rely on a course being on the register.”

He points out that being on the ASIC register did not include any assessment that guaranteed the quality of training. Although there will still be providers that offer quick and easy training solutions, licensees and industry associations are well aware of them and do not encourage people to complete them.

“In recent years, we have seen an increasing commitment from the industry to lift standards irrespective of legislation. We look forward to continuing to partner with most licensees to do this.”

Knight says the comment from ASIC that the removal of the register will cause problems with record keeping is not correct as RTOs and higher education providers “have strict requirements for maintaining of records and providing evidence of completed courses”.

He has called on associations, such as the AFA and FPA to play a role in recommending and approving robust and suitable training courses.

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ASIC takes a step back

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