FSC Chief Executive, Richard Klipin says, “The FMA has provided a clear roadmap for full licence applications, and the target dates will be useful for advisers to work towards to ensure their application is processed before transitional licences expire in March 2023.
“The sector through the FSC has worked collaboratively to guide and support advisers through the transition to the new FAP licences. This has been undertaken across the FSC’s membership, ably led by our Professional Advice Committee.
“In the three years since the regime was announced, we have introduced several initiatives to support advisers through this process. These have included our Professional Advice Knowledge Hub, ‘Get in Shape’ and ‘Navigating change’ webinars and roadshows across the country, expert discussions through our regular FSC connect webinars, publication of a guide for disclosure obligations, alongside practice management and skills development.
“We acknowledge this has been a period of significant change for the sector, and businesses are managing a vast range of priorities at the moment. We applaud our members for their hard work in adapting to, and meeting these new licence requirements, especially alongside the significant impacts of Covid-19.
“Transitional licence holders can now focus on applying for their full licences, within the timeframe set out.
“The FSC has a huge amount of resources and expertise that we strongly encourage members to draw upon, and please do reach out to us if you have any queries or need support as you navigate the application process,” concluded Klipin.
See How to apply for a full licence on the FMA website.
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