Elements and Performance Criteria
- Identify and comply with legislative and regulatory requirements
- Identify sources of information on legislative, regulatory and industry codes of practice requirements
- Adhere to compliance requirements in financial planning practice
- Regularly access sources of relevant information, including updated memorandums, web pages and journals
- Identify experts within practice and external regulatory advisory services, and access for advice and guidance when required
- Apply standards of ethical behaviour
- Identify principles and standards of ethical behaviours from training programs, peers, industry codes of practice and organisational guidelines
- Continually monitor work to ensure it meets ethical standards
- Check tasks to be completed that may raise doubt regarding their propriety, and clear with an expert source
- Identify and comply with organisational operation guidelines
- Identify and regularly check updates to operational guidelines and apply to own work
- Identify experts within organisation responsible for interpretation of guidelines, and seek their assistance and contact when needed
- Establish personal monitoring system, including checklists and peer review mechanisms, to ensure compliance
- Identify and act on opportunities for professional development