Code of Ethics
Relevant providers are required to comply with the 聽(Code of Ethics).
The Code of Ethics is a set of standards and core values designed to encourage higher standards of behaviour and professionalism for relevant providers.
The Minister is responsible for developing the Code of Ethics.
Ethical standards
The Code of Ethics establishes 12 high-level ethical standards for relevant providers to meet, including:
- acting in the best interests of clients
- avoiding conflicts of interest
- ensuring that clients give informed consent and understand the advice they receive
- ensuring that clients clearly agree to the fees they will pay, and
- maintaining a high level of knowledge and skills.
Bridging units
In addition to complying with the Code of Ethics, relevant providers and persons training to become a relevant provider must complete an Ethics for Professional Advisers bridging unit listed in Schedule 2 of the (Determination). This is not the case if the completed approved degree or qualification is listed in Schedule 1 of the Determination and the Determination specifies that a bridging unit is not required for that degree or qualification.
Relevant providers who are relying on the experienced provider pathway to meet the qualifications standard are not required to complete an Ethics for Professional Advisers bridging unit.