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New white paper: Professionalisation of financial services

The Professional Standards Councils has just released Professionalisation of financial services, the first white paper in a planned series on professionalisation within the Australian services sector.

The white paper presents the findings of months of research, and considers the community, economic, regulatory and personal benefits that might arise from formal professionalisation of the financial services sector.

Professionalisation of financial services reveals that, while there is strong support for professionalisation across the industry, a lack of common understanding and agreement on the essential elements of professionalism poses a significant obstacle to reform. The white paper offers a series of recommendations to overcome such barriers in the sector.

“We prioritised financial services because of public scrutiny of conduct in this sector, and the opportunity that exists for more efficient regulatory design,” said our Chief Executive Officer, Dr Deen Sanders.

“We hope that our findings will encourage discussion and debate for all stakeholders, and ultimately help improve consumer protection and motivate expanded professional obligation across the sector.”

Download the white paper