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dc.contributor.authorYan, Kejia
dc.contributor.authorMaheshwari, Suneel
dc.date.accessioned2021-08-06T08:17:45Z
dc.date.available2021-08-06T08:17:45Z
dc.date.issued2020
dc.identifier.issn0972-222X
dc.identifier.doi10.51768/dbr.v21i1.211202011
dc.identifier.urihttp://hdl.handle.net/10072/406668
dc.description.abstractAccording to the Corporations Amendment Act 2017 (Australia) and Corporations Act 2001 (Australia), the Financial Adviser Standards and Ethics Authority has issued a final version of Financial Planners and Advisers Code of Ethics (FASEA’s Code of Ethics) that will commence on 1 January 2020. Focused on FASEA’s Code of Ethics, our paper argues that the adoption of this Code of Ethics and accepting the fiduciary responsibility by financial advisers will be challenging as the code lacks integration and preciseness.Research Design/Methodology: This a study based on secondary sources, taken from varied journals, reports and online sources.Findings: FASEA’s Code of Ethics is not aligned with the code of ethics of other professional bodies who are to monitor its implementation. Our paper also raises the question about legislation of standards for ethics based on general values. The new code of ethics fails to build the connection between unethical behavior and its consequences. Our paper discusses the components of FASEA’s Code of Ethics and the new increased educational requirements that are proposed by the FASEA’s Code of Ethics. Also, the problem of ‘informed consent’ conflict is not resolved. Therefore, its acceptance by the professional financial bodies is unlikely to help enhance the clients’ perception about the competence and integrity of the financial adviser, which was one of the main goals of the FASEA’s Code of Ethics.Research Limitations: Financial Planners and Advisers Code of Ethics need an ongoing observation, the data we have is constantly being adjusted by official authorities.Originality/Value: Our suggestions include evaluation of value added by additional layer of the FASEA’s Code of Ethics and indicate clearly the obligations of Code Monitoring Bodies so as to clarify the interaction between the FASEA’s Code of Ethics and other professional codes of ethics. FASEA should also balance the relationships among education requirements, practice experience and ethical reasoning levels so that the adoption of the code is more acceptable to the advisers.
dc.description.peerreviewedYes
dc.publisherSociety for Human Transformation and Research
dc.relation.ispartofpagefrom1
dc.relation.ispartofpageto11
dc.relation.ispartofissue1
dc.relation.ispartofjournalDelhi Business Review
dc.relation.ispartofvolume21
dc.subject.fieldofresearchNursing
dc.subject.fieldofresearchPublic Health and Health Services
dc.subject.fieldofresearchcode1110
dc.subject.fieldofresearchcode1117
dc.titleLimitations of Financial Adviser Standards and Ethics Authority’s Code of Ethics
dc.typeJournal article
dc.type.descriptionC1 - Articles
dcterms.bibliographicCitationYan, K; Maheshwari, S, Limitations of Financial Adviser Standards and Ethics Authority’s Code of Ethics, Delhi Business Review, 2020, 21 (1), pp. 1-11
dcterms.licensehttps://creativecommons.org/licenses/by-nc-sa/4.0/
dc.date.updated2021-08-06T05:08:02Z
dc.description.versionVersion of Record (VoR)
gro.rights.copyright© The Author(s) 2020. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) License, which permits unrestricted, non-commercial use, distribution and reproduction in any medium, providing that the work is properly cited. If you alter, transform, or build upon this work, you may distribute the resulting work only under a licence identical to this one.
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gro.griffith.authorYan, Kejia


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