Stay up to date with regulatory compliance at the FAAA Congress

The upcoming Financial Advice Association Australia (FAAA) Congress will explore ASIC's key focus for the remainder of the year, while shedding some light on the ongoing developments from the Australian Financial Complaints Authority (AFCA) and the Compensation Scheme as Last Resort (CSLR).

This year's congress, themed 'EXPLORE,' reflects the core purpose to providing financial advisers with the opportunity to explore new ideas, practical strategies and industry developments that help to better serve their clients, the FAAA said.

"It's also about exploring different perspectives through conversations with peers, experts and industry leaders, and taking away insights that can be applied immediately in their businesses," the association said.

Participating in two separate panels, FAAA general manager of policy, advocacy and standards Phil Anderson, noted attendees can expect what the regulator is bringing to the table in relation to the Delivering Better Financial Outcomes (DBFO) reforms, the CSLR, as well as other announcements from assistant treasurer Daniel Mulino last month, in a discussion between himself, ASIC senior executive leader Leah Sciacca, and FAAA policy and advocacy consultant Andrea Forbes.

"We certainly expect to see an answer on the CSLR special levy," Anderson said.

"We expect to see some more progress on the education standards, and we'll also talk about the reform on AML/CTF and how it impacts advisers.

"Leah will talk about some reports that ASIC is working on that will be interesting to follow, including a review on separately managed accounts, but she'll also have a chance to talk about what they have done this year across Shield and First Guardian."

Anderson will also moderate a conversation between CSLR chief executive David Berry and AFCA lead ombudsman Shail Singh, who are providing their perspectives on complaints, compensation, and regulatory developments.

He said both speakers will be able to talk about the progression in complaints for First Guardian and Shield, as well as other key themes and new emerging issues from intriguing sectors like private credit.

"It'll be two informative and detailed sessions with a lot of external speakers who are able to add a lot of value to the message," he said.

The FAAA announced Anderson will retire from his current role at the conclusion of the congress.

Financial Standard is an official supporter of the 2026 FAAA Congress.