The regulations governing training of financial product advisers are under the microscope, as the Australian Securities and Investments Commission (ASIC) awaits feedback on a consultation paper released last week.

ASIC is asking the industry and consumers to consider proposed changes that would bring its Regulatory Guide 146 in line with the latest Corporate and Financial Services Regulation Review by the Federal Government.

The paper discusses proposed changes to the quality of courses on the ASIC training register, the appropriateness of training standards and the ways in which ASIC deals with issues of prior study and training.

Executive Director of Regulation Malcolm Rodgers says the proposed changes are relatively minor. “We do not propose to fundamentally rethink our policy.”