Financial adviser training courses for insurance brokers may be overhauled following an Australian Securities and Investments Commission (ASIC) review.

The corporate watchdog says it does not intend to “fundamentally revisit” current training standards but is concerned by industry feedback about a lack of quality and currency.

The review of retail financial adviser training standards, foreshadowed by Federal Government proposals released in November, will focus on updating training standards “towards the perimeter of the financial advice regime”, including for insurance brokers.

The review will also examine whether training categories could be broken into a larger number of narrower categories, the administration and ease of use of ASIC’s training register, and the recognition of prior study and training.

“Generally speaking, minimum training standards are appropriate for people providing financial product advice to retail clients,” ASIC said.

“Initial meetings with stakeholders suggest that there may be industry concerns about the quality of some courses on the training register and how up to date they are.”

ASIC will release a public consultation paper in July to seek broad input on the review.