March 2004 - AILA to support FSRA Compliance
The financial services sector, including the insurance industry, continues steadily towards the end of the transition period of the Financial Services Reform Act on March 11, 2004.
We all receive newsletters and web site up-dates on how the legislation is expected to operate, in addition to all the other regulatory and tort law reforms currently in various stages of progress, so be prepared for a year of feverish activity.
As part of the FSRA regulations, it is a condition of each licence that licensees must ensure their representatives remain competent through the provision of ongoing training.
AILA has, in the past 20 years, convened world-class events such as annual, national conferences and seminars. After March 11, we will continue with these activities but can now play an even greater supporting role in offering continuing education support for members and Friends of AILA alike who must comply with FSRA CPD requirements.
All AILA events will now allow members to maintain their CPD/CIP status with the Australian & New Zealand Institute of Insurance & Finance and National Insurance Brokers' Association as these industry associations have granted AILA permission to provide compliance points for their members who attend our events.
We have also introduced changes to our event brochures, website and QPIB certificates to ensure attendance at our events is complementary to your FSRA CPD obligations.
I hope that by the time this edition of AILA News reaches you, all current members will have received the 20th anniversary commemorative papers, which I commend to you.
Peter Backe - Hansen