RG146 Compliance?

What is RG146? (Regulatory Guide 146)

ASIC has set minimum standards for the training of financial product advisers (training standards): see RG 146.1–RG 146.3. In general, advisers will meet the relevant training standards by satisfactorily completing training courses assessed as meeting the training standards by an authorised assessor.  As an alternative, experienced advisers can demonstrate their competence through individual assessment by an authorised assessor: see RG 146.8–RG 146.13 and Sections D–E.

Who does RG146 compliance apply to?

RG146 continues to apply for certain groups, namely licensees and advisers who:

  • Provide general advice
  • Provide personal advice to retail clients in Insurance Broking, General Insurance and/or in Deposit Products & Non-Cash Payment Products only
  • Are already listed on the Financial Advisers Register and wish to add an additional RG146 specialist knowledge area to their existing credentials.

RG146 general advice is a valid and core part of ASIC’s regulatory framework. It is also an effective learning solution for financial services firms looking to ensure a desired level of base knowledge across selected teams or the wider organisation.

Our RG146 Program

Each program is offered 100% online by self study via our learning portal, FEP Online. It provides you with online learning resources, support and assessment.

Find out more. Check out our FAQs

Tier 1 RG146

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. If you have completed Generic Knowledge in the past, we can recognise this prior learning on your certificate. Please send a copy of your transcript to admin@financialeducation.com.au to check your eligibility.

Click on the ‘+’ to view each program and to enrol.

RG146 Derivatives ($325)

Our RG146 Derivatives course describes the knowledge and skills required to analyse client needs and to deal ethically and professionally in derivatives products. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

Learning outcomes

  • Discuss how Australia’s financial markets operate and the roles played by its various participants
  • Describe the features and characteristics of commonly used derivatives products and how they are traded
  • Evaluate techniques for speculating and hedging using derivatives products
  • Devise effective trading plans using derivatives products.

Course content

  • Australia’s financial system and markets
  • Types of derivatives products
  • Managing risk with derivatives products
  • Trading with derivatives products

Download our RG146 Derivatives course brochure

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.
Duration: You have 8 weeks from your enrolment date in which to complete each course.
Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.

RG146 Foreign Exchange ($325)

Our RG146 Foreign Exchange course describes the knowledge and skills required to analyse client needs and to deal ethically and professionally in foreign exchange instruments. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

Learning outcomes

  • Discuss how global foreign exchange markets operate and the roles played by its various participants
  • Describe the features and characteristics of commonly used foreign exchange instruments and how they are traded
  • Evaluate techniques for speculating and hedging using foreign exchange instruments
  • Devise effective trading plans using foreign exchange instruments, including consideration of regulatory and operational requirements.

Course content

  • Overview of the foreign exchange market
  • Foreign exchange conventions
  • Risk management, regulation and operational guidelines

Download our RG146 Foreign Exchange course brochure

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.
Duration: You have 8 weeks from your enrolment date in which to complete each course.
Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.

RG146 General Insurance ($325)

Our RG146 General Insurance is designed for organisations and employees who sell general, personal and business insurance products as defined in RG146. Importantly, this course incorporates coverage of personal accident and sickness insurance.

Learning outcomes

  • Identify the key participants, products, and activities that comprise insurance markets
  • Describe the types of risks that general insurance is designed to protect against
  • Explain the features and characteristics of personal accident and sickness policies that led ASIC to consider them a more complex insurance product
  • Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the insurance industry
  • Evaluate best practice principles for providing general advice to clients

Course content

Tier 1 General Insurance

  • Overview of insurance markets
  • Specialist general insurance knowledge
  • Personal Accident and Sickness Insurance
  • Providing insurance product information

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.
Duration: You have 8 weeks from your enrolment date in which to complete each course.
Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.

RG146 Generic Knowledge ($325)

RG 146 Generic Knowledge provides you with knowledge of the environment in which you will operate in the financial services industry, no matter what the specialised area in which you are working. On completion of Generic Knowledge, participants should then complete the specialist knowledge areas they require for RG146 compliance.

RG 146 Generic Knowledge course content:

  • The economic environment
  • Operation of financial markets
  • Financial markets and products – Part 1 & 2

RG146 Insurance Broking ($895)

Our RG146 Insurance broking program covers the core and specialist knowledge and skills an insurance broker needs.

Insurance brokers play an important role in insurance markets, comparing general insurance products from multiple providers to develop risk management solutions for clients, particularly businesses and customers with complex needs.

Learning outcomes

  • Interpret and comply with industry regulations and codes of practice
  • Analyse client’s needs, financial situation and risk profile, and prepare appropriate general insurance strategies or solutions
  • Provide accurate and ethical advice on insurance broking products and services
  • Implement general insurance plans, policies or transactions once agreed by the client and complete documentation accurately.

Program content

Generic Knowledge

  • Topic 1: Overview of financial services industry and regulation
  • Topic 2: Operation of financial markets and the economy
  • Topic 3: Financial markets and products
  • Topic 4: Relevant legal principles and compliance

Assessment: Online multiple choice examination

Tier 1 Insurance Broking

  • Topic 1: Introduction to insurance markets
  • Topic 2: Specialist general insurance knowledge
  • Topic 3: Overview of the insurance broking process
  • Topic 4: Insurance broking skills

Assessment: Online multiple choice examination + Online Skills Assessment

RG146 Life Insurance ($325)

Our RG146 Life Insurance course is designed to give you key fundamental knowledge of the life insurance market in Australia, this course includes how life insurance works, the different products commonly used, defines what the different types of policies are and explains the process, from application through to claims. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

Learning outcomes

  • Identify the key participants, products, and activities that comprise insurance markets
  • Describe the types of risks that life insurance is designed to protect against
  • Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the selling of life insurance products

Course content

    • Insurance markets
    • Life insurance products
    • Life insurance underwriting, premiums and claims

Download our Life Insurance course brochure

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.
Duration: You have 8 weeks from your enrolment date in which to complete each course.
Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.

RG146 Managed Investments ($325)

Our RG146 Managed Investments course describes the knowledge and skills required to analyse client needs and to deal ethically and professionally in managed investments. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

Learning outcomes

  • Define what a managed investment scheme is and identify the roles played by the various participants in Australia’s managed investment market
  • Discuss the benefits and disadvantages to investors of using investment managers and their products
  • Describe the features and characteristics of commonly used managed investments and how they are traded
  • Evaluate investment concepts and strategies used to earn returns and mitigate risks
  • Analyse key issues involved in reporting investment performance, including asset management approach, attribution analysis, and disclosure of fees and charges
  • Demonstrate property valuation techniques.

Course content

  • Managed investment concepts
  • Types of managed investments
  • Investment, portfolio management and risk
  • Analysing managed investments

Download our RG146 Derivatives course brochure

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.
Duration: You have 8 weeks from your enrolment date in which to complete each course.
Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.

RG146 Margin Lending ($325)

Our RG146 Margin Lending course has been specifically designed for those seeking RG146 compliance to provide general advice in the Tier 1 financial product area of Margin Lending (when completed with Generic Knowledge).

Course content

  • Introducing margin lending
  • Margin lending facilities
  • Margin lending and taxation
  • Margin lending: benefits, risks and risk management
  • Margin lending: lessons from recent prominent cases
  • Margin lending: responsible lending
  • Legal environment – disclosure and compliance

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.
Duration: You have 8 weeks from your enrolment date in which to complete each course.
Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.

RG146 Securities ($325)

Our RG146 Securities course describes the knowledge and skills required to analyse client needs and to deal ethically and professionally in securities, in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

Learning outcomes

  • Discuss how Australia’s financial markets operate and the roles played by its various participants
  • Describe the features and characteristics of commonly used securities products and how they are traded
  • Evaluate investment concepts and strategies used to earn returns and mitigate risks
  • Outline the tax implications of buying, selling and earning income from securities products.

Course content

  • Operation of securities markets
  • Types of products
  • Investment, portfolio management and risk
  • Taxation of securities

Download our RG146 Securities course brochure

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.
Duration: You have 8 weeks from your enrolment date in which to complete each course.
Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.

RG146 SMSF ($325)

Our RG146 SMSF course covers the knowledge and skills necessary to offer general product information related to self-managed superannuation funds (SMSFs) ethically and professionally. It also addresses additional training required by the Australian Securities and Investments Commission (ASIC) to provide general advice in the RG 146 Tier 1 financial product area of SMSF.

Learning outcomes

  • Define what a self-managed superannuation fund is and outline the characteristics of Australia’s SMSF market
  • Evaluate the advantages and disadvantages that members take into consideration when deciding whether or not to set up an SMSF
  • Explain regulatory requirements associated with setting up an SMSF
  • Discuss rules regarding why and how SMSF funds can be invested
  • Demonstrate record-keeping, reporting and other administrative matters that must be complied with in running, receiving income from and winding down an SMSF.

Course content

  • Introducing self-managed superannuation funds
  • Self-managed superannuation fund compliance
  • Investing self-managed superannuation funds
  • Administering self-managed superannuation funds

Download our RG146 SMSF course brochure

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.
Duration: You have 8 weeks from your enrolment date in which to complete each course.
Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.

RG146 Superannuation ($395)

Our RG146 Superannuation covers the knowledge and skills necessary to offer general product information related to superannuation ethically and professionally. It also addresses training required by the Australian Securities and Investments Commission (ASIC) to provide general advice in the RG 146 Tier 1 financial product area of Superannuation.

It is designed for both representatives of the superannuation industry and existing RG146 compliant advisers seeking to extend their advisory range into Superannuation including:

  • Super funds
  • Super fund administrators
  • Master funds and investment managers
  • Custodial services
  • Other support services, e.g. client support representatives (call centres)
  • Private Wealth advisers

Learning outcomes

  • Discuss the history of the Australian superannuation system
  • Describe how Australia’s superannuation industry operates and the roles played by its various participants
  • Demonstrate how funds can be contributed to, invested, and withdrawn from superannuation in line with applicable laws and regulatory guidance
  • Explain how superannuation is governed, including the oversight exercised by superannuation trustees, ASIC and APRA
  • Examine the implications of taxation, social security and insurance rules on the administration of superannuation funds.

Course content

  • Overview of Australia’s superannuation system
  • Contributing to, investing, and withdrawing superannuation
  • Governing and administering APRA-regulated superannuation funds
  • Taxation, social security and insurance

Download our RG146 Superannuation course brochure

Study time: We estimate you will need approximately 20 hours study time to complete each Tier 1 subject. Each earning 20 hours/points.

Duration: You have 8 weeks from your enrolment date in which to complete each course.

Assessment: For each Tier 1 course, there is one (1) open-book knowledge examination comprising of forty (40) multiple choice questions. You are given two (2) ttempts with a required 80% pass mark.

Tier 2 RG 146

Tier 2 Deposit Products and Non-Cash Payments ($215)

Our Tier 2 Deposit Products and Non-Cash Payments course examines the common functions of money and how regulation of Australia’s banks and payment system is shared between ASIC, APRA and the Reserve Bank of Australia (RBA). We outline common characteristics of deposit products and look at the difference between deposits and comparable investment products such as cash management trusts.

We also explore the companies that comprise Australia’s authorised deposit-taking institutions (ADIs), including the advent of neobanks, and a range of non-cash payment facilities – from longstanding solutions such as cheque accounts, travellers cheques, EFTPOS and bill payments to more innovative products such as fast fund transfers, reloadable prepaid credit cards, and digital and mobile wallets.

Learning outcomes

  • Outline the common functions of money
  • Describe the concept of interest and differentiate between simple interest and compound interest
  • Discuss how Australia’s banks and the payment system are regulated to achieve a high level of consumer protection
  • Examine the features and characteristics of non-cash payment facilities that led to them being defined as financial products and therefore saw them fall under ASIC’s regulatory oversight.

Course content

    • Deposit Products and interest rates
    • Non-cash payment products
    • Legal environment – disclosure and compliance

Download our Deposit products and non cash payments course brochure

Tier 2 General Insurance ($215)

Our Tier 2 General Insurance course is designed for organisations and employees who sell general, personal and business insurance products as defined in RG 146. Existing authorised representatives can also complete this course to extend their advisory range into Tier 2 general insurance products.

Tier 2 General Insurance does not include Personal Accident and Sickness. This is included in Tier 1 General Insurance.

Learning outcomes

  • Identify the key participants, Tier 2 products, and activities that comprise insurance markets
  • Describe the types of risks that insurance is designed to protect against
  • Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the insurance industry
  • Evaluate best practice principles for providing general advice to clients

Course content

  • Overview of insurance markets
  • Specialist general insurance knowledge
  • Legal environment – disclosure and compliance
  • Providing insurance product information

Our RG146 Continuing Professional Development

ASIC requires that licensees implement policies and procedures to ensure that they and their advisers undertake continuing training to maintain and update the knowledge and skills that are appropriate for their activities.

Our RG146 CPD provides financial participants and organisations with the complete online solution to satisfy RG146 ongoing requirements.

Whether you just need a top-up or are looking to switch your entire program, we have the right CPD solution for you. You may also like to top-up your CPD with our CPD short courses.

Download our CPD short course brochure

What students say about our courses

At course completion we request feedback to see how we are going. The 2019 RG146 courses received fabulous reviews.

92%

Valued the high quality course content

91%

Found the course was highly relevant to their current role

97%

Are satisfied with the support services provided by FEP

100%

Would recommend FEP to a colleague

Study in your own time and the quality of the course was excellent – Paul Ryan, Paul Ryan and Associates

Easy to access and the course is suitable for meeting AFSL requirementsBeryl Notias, Baptist Financial Services Australia Ltd

Very easy to enrol and do the courses without delay! 24 hr access its brilliant! Keep up the awesome work! David Momirovic, VDM & Thorn Pty Ltd

I enjoyed the course, and would highly recommend your company.

The team was very helpful with helping me select the correct course to suit my needs, enrolment and extending deadlines to complete“. – Ryan Simmons, Domestic & General Insurance (Australia)

Did you know?

Recent changes to MDA licensing

ASIC regulates an interest in an MDA as a financial product. Therefore, providers of managed discretionary account services may have similar licensing, conduct and disclosure requirements to other entities that deal in various financial products.

Read more

What is the difference between Tier 1 and Tier 2 products?

ASIC has divided financial products into Tier 1 and Tier 2. Tier 2 products are generally simpler and better understood than Tier 1 products. Therefore are subject to lighter training standards.

Advisers on Tier 1 products are required to complete Generic Knowledge. However, ASIC does not require advisers on Tier 2 products to meet the generic knowledge requirements.

Tier 2 products don’t have an investment component where the return is subject to market fluctuations. Hence, training on the economic environment as part of generic knowledge training is less relevant to advisers on Tier 2 products.

Download a brochure