2020 was a rocky year for practice valuations, with AMP’s landmark decision to revalue its BOLR terms having a butterfly effect through the market while thousands of advisers exited the industry.
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Regulators look to next stage of recovery Sarah Kendell 24 December 2020
ASIC and APRA will enter 2021 with a firm focus on supporting financial players through “the next stage of recovery” from the pandemic as new legislation mandates closer collaboration between the two regulators in the new year.
In an update released last week, the regulators said COVID-19 had “amplified the need for alignment” when it came to solving common problems in the financial system, such as the response to loan repayment deferrals facilitated by APRA and ASIC at the beginning of the crisis.
“Both agencies worked together with the banking industry on measures to help customers faced with loan repayment difficulties because of the pandemic,” a statement from ASIC and APRA said.
FASEA adds new degrees to approved list
The standards authority has added two new university courses to its approved degree list for 2021.
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In a statement, FASEA said it had approved the UNSW Bachelor of Commerce majoring in Financial Planning, and the University of Tasmania Graduate Diploma of Financial Planning, starting from the first semester of 2021.
It had also approved an additional Ethics and Professionalism bridging course offered by the University of Tasmania, also starting from the first semester of next year. The approvals are recognition of the alignment of the listed courses with FASEA’s required curriculum and standards, FASEA said.
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