RG146 Compliance
What is RG146?
RG146 is ASIC‘s Regulatory Guide 146 for Licensing: Training of financial product advisers.
Anyone giving financial product general advice under an Australian Financial Services Licence (AFSL) must satisfy ASIC’s RG 146 training standards. Our RG146 Compliance Training Courses meet ASIC’s requirements for financial product advisers or representatives needing to meet the relevant training standards. (see RG 146.1–RG 146.3.)
Our courses are also an effective learning solution for financial services workplaces looking to ensure a desired level of base knowledge across selected teams or the wider organisation.
Who does RG 146 compliance apply to?
RG 146 continues to apply for certain groups, namely licensees and advisers who:
- Provide general advice in Securities, Derivatives, Managed Investments, Foreign Exchange, Superannuation or Life Insurance
- Provide general or personal advice to retail clients in General Insurance, Insurance Broking, and/or Deposit Products & Non-Cash Payment Products
- Are already listed on the Financial Advisers Register and wish to study RG146 specialist knowledge as CPD
- Need to complete a relevant short industry course under Responsible Manager Nomination Option 3
- Provide advice to wholesale clients (optional under RG146.35).
It is also recommended for trading/dealing desk heads, middle office, responsible managers, and other oversight roles.
We are a Registered Training Organisation and an ASIC Authorised Assessor, so you can be assured that our courses comply with ASIC’s requirements (RG 146.87).
Our Tier 1 Superannuation covers Australia’s superannuation system, regulation & policy, member contributions, insurance, and transition to retirement products. Our course includes the coverage of Superannuation reporting obligations to APRA, providing an overview of quarterly reporting, annual reporting, matters covered by reporting standards, and links to the reporting standards themselves.
RG146 Insurance Broking is designed for individuals who want a career as an insurance broker. Navigate the make-up of the insurance market, features of general insurance products and how the insurance broking process works.
Our program
- covers the core and specialist knowledge and skills an insurance broker needs and
- meets ASIC Regulatory Guide 146 (RG146) education requirements for providing general and personal advice with broking clients.
The CFA® Gap program has been specifically designed for those who have successfully completed Level 1 (or higher) of the Chartered Financial Analyst (CFA®) program. It covers those areas of knowledge required to achieve RG 146 compliance that are not covered by Level 1 of the CFA® program.
Successful completion of the RG 146 Gap Training Program for CFA® Charterholders provides RG 146 compliance to provide general advice in:
- Securities
- Managed Investments
- Derivatives
- Foreign Exchange
To meet relevant training standards at the Tier 1 level, you must complete both Generic Knowledge and the specialist knowledge area you intend to provide general advice in. Enrol now and receive a 10% discount when you purchase 2 or more Tier 1 RG 146 initial compliance courses. Use the code RG146bundle at checkout.
Tier 2 RG146 Compliance training courses
Frequently Asked Questions
RG 146 continues to apply to people who provide:
- general advice,
- personal advice on basic banking products, general insurance and/or consumer credit insurance, and
- individuals who provide financial product advice in relation to a time-sharing scheme.
RG 146 refers to ‘Tier 1 products’ and ‘Tier 2 products’. As a result of the professional standards reforms, ASIC considers, in general, that:
- Tier 1 products are relevant financial products, and
- Tier 2 products are financial products that are not relevant financial products (i.e. basic banking products, general insurance products and/or consumer credit insurance, and time-sharing schemes).
Our practical, back to basics guide steps you through becoming RG146 compliant. Learn more in our recent insight How Do I Become RG146 Compliant?
We offer an online, modular approach, allowing you to study and complete one RG146 specialist knowledge area at a time.
To meet relevant training standards at the Tier 1 level, you must complete both Generic Knowledge and the specialist knowledge area you intend to provide general advice in.
That would depend on your role and what financial products you provide advice in. You must be accredited to provide advice in all knowledge areas you intend to advise on. Consult your licensee if you are unsure or would like to discuss with them your desire to advise on additional knowledge areas.
Authorisation is the responsibility of your Australian Financial Services Licensee.
ASIC’s training standards are sets of knowledge and (in some cases) skill requirements that must be satisfied by advisers before they give advice.
Knowledge and skill requirements vary depending on:
- whether the adviser gives general or personal advice; and
- what products the adviser gives advice on.
- Some products are classified as being Tier 1, while others are Tier 2
The knowledge requirements are set out in Appendix A of RG146 and the skill requirements are set out Appendix B.
Under their Australian financial services licensing obligations, some firms are required to meet additional standards if any representatives give advice to retail clients (RG146).
To assist AFS Licensees, we follow the syllabus prescribed by the Australian Securities and Investments Commission (ASIC) for each Tier 1 and Tier 2 specialist knowledge area.
We are a Registered Training Organisation and an ASIC Authorised Assessor, so you can be assured that each RG146 course covers all the elements ASIC has specified advisers should learn. (RG 146.87).
Our RG146 Programs are self-paced with online learning resources & on-going support.
- You have up to 16 weeks to complete the learning and assessment requirements for your Tier 1 RG146 Course.
- You have up to 8 weeks to complete the learning and assessment requirements for your Tier 2 RG146 Course.
- Experienced professionals can complete in less time.
- The assessment is online, open-book and does not need to be supervised
- If you are unsuccessful, you may repeat the assessment (2 attempts)
- A practice assessment is available to you
Learners have up to 16 weeks to complete a Tier 1 Compliance Course. The study time all depends on your current knowledge and experience, however we estimate 20 hours to complete a Tier 1 RG146 course or 8 hours to complete a Tier 2 RG146 course.
Our Tier 1 specialist knowledge areas include:
- RG146 Securities
- RG146 Derivatives
- RG146 Managed Investments
- RG146 Foreign Exchange
- RG146 Superannuation
- RG146 General Insurance
- RG146 Life Insurance
- RG146 Insurance Broking.
To meet relevant training standards at the Tier 1 level, you must complete both Generic Knowledge and the specialist knowledge area you intend to provide general advice in.
Our Tier 2 specialist knowledge areas include:
ASIC has divided RG146 products into Tier 1 and Tier 2. Tier 2 products are generally simpler and better understood than Tier 1 products and are therefore subject to lighter training standards.
In RG 146 ASIC says it has taken this approach because while Tier 2 products carry certain risks, they:
- are relatively straightforward;
- do not have any investment component;
- are subject to standard terms and conditions except for disclosed variations; and
- are of limited life, often 12 months.
In practical terms, advisers on Tier 1 products are required to have Generic Knowledge plus a specialist knowledge about the specific products they advise on and the markets in which they operate. This differs from ASIC’s syllabus for Tier 2 products, which covers only specialist knowledge requirements that are relevant to the adviser’s tasks and specific industry and product/s.
Tier 2 products are deposit products, non-cash payment facilities, and general insurance (other than personal sickness and accident insurance).
Most other financial products are Tier 1, such as Securities, Managed Investments, Derivatives, Foreign Exchange, Superannuation, and Life Insurance.
Note that not all licensed financial products are in the RG 146 framework. For details of what financial products are in scope and whether they are Tier 1 or Tier 2, refer to RG 146.
Remember, licensees still have a general obligation to ensure that their advisers have the necessary skills to be competent to provide advice (s912A(f) of the Corporations Act). Studying RG 146 learning is an effective avenue for fulfilling this requirement.
Our RG146 Compliance Training Courses meet ASIC’s requirements for financial product advisers or representatives needing to meet the relevant training standards. (see RG 146.1–RG 146.3.)
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RG146 Generic Knowledge
Learn the economic environment, operation of financial markets and types of financial products. -
RG146 Securities
Explore shares, bank bills, commercial paper, bonds, structured products and crowdfunding. -
RG146 Derivatives
Uncover equity, fixed interest, FX related futures, options, forwards, swaps and market conventions.
You can enrol your team either:
- Enrol online or
- Contact us to arrange an invoice.
Talk with us to develop your team training program.
We do not charge additional study related fees.
- Exam resit $0
- Course extension request (4 weeks) $0
- Certificate replacement fee $0
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