Update to the Hawking Prohibitions RG 38

Overview

Our Hawking Prohibitions RG 38 short course uncovers what the new provisions are and what you need to know to ensure your organisation is compliant.

Changes to hawking rules (RG 38) recommended by the Royal Commission make for the biggest reforms to this area of financial services conduct since they were first introduced. They affect not only securities and managed investment schemes but are also now being extended to insurance and superannuation products.

The reforms are designed to give consumers further control over financial product purchasing decisions. They broaden and clarify the say consumers have in when and how they want to be contacted by product providers and the kinds of financial products they are offered. Explore what is or isn’t ‘unsolicited contact’, the rights of consumers, and how the hawking provisions interact with other measures, such as compliant advice-giving and the deferred sales model for add-on insurance.

Reforms to the anti-hawking regime were made under the Financial Sector Reform (Hayne Royal Commission Response) Act 2020, which commenced on 5 October 2021. These reforms were designed to tackle consumer harms arising from consumers being approached with unwanted products through cold-calls or other unsolicited contact.

Program Content

Learning Outcomes

What you will learn

  • ASIC and Royal Commission findings that prompted the changes
  • How existing hawking prohibitions have been broadened and strengthened
  • New anti-hawking measures for the insurance and superannuation sectors
  • How anti-hawking works in tandem with other rules governing compliant offering of financial products and services.

Who is this course for?

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

You will be awarded a Certificate of Completion. It will be available online for you to download and print immediately.

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Frequently Asked Questions

What others say about us

Parallels real workplace experience.

We have been using FEP for a number of years now. The course materials are highly professional and parallels real workplace experience. Staff greatly value participating in meaningful external training and are the greatest advocates.

Efficient, informative and accessible.

The content is well set out, clear and precise. My organisation does the course every year and we are continuing to learn new and interesting things with each new offering. The content is up to date with the industry and completely relevant to my role. I had all the support and learning resources available to get it done…

Extremely relevant and meaningful.

Our firm exclusively uses the services of Financial Education Professionals for all of our ongoing RG146, compliance and responsible manager training for our team. We find course materials extremely relevant and meaningful and this allows our team to have up to date, practical knowledge.

Peter McGuire, CEO, XM