FSC backs target dates for FAP licencing

Last week, the FMA set September 30, 2022, as the target date by when all transitional FAPs should apply for their Class 1 or Class 2 full licences and June 30, 2022, for Class 3 licences.

FSC chief executive Richard Klipin says the FMA has provided a clear roadmap for licence applications and the FSC is also able to support applicants with some of its initiatives introduced since the new regime was announced.

These include its Professional Advice Knowledge Hub, ‘Get in Shape’ and ‘Navigating change’ webinars and the 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," Klipin says.