Always good to read something that confirms your understanding of an industry, this was in the Age today.

‘Failure rate is going through the roof’: Stockbrokers rail against mandatory compliance test

By Charlotte Grieve

March 12, 2021 — 12.02pm

Some of the nation’s most prominent stockbroking firms are railing against a mandatory ethics test that has resulted in mass failures, arguing it is misguided and discriminates against the most experienced industry professionals.

Major broking firms including Bell Potter, Morgans and Shaws have experienced excessive failure rates in the new compliance exam, which was introduced following the banking royal commission and must be passed by the end of this year. With sittings only available once every three months, concern is mounting among brokers that time is running out to pass the test, and that failures could spark an exodus of the industry’s most experienced advisers.

For full story
https://www.theage.com.au/business/banking-and-finance/failure-rate-is-going-through-the-roof-stockbrokers-rail-against-mandatory-compliance-test-20210311-p579qf.html

Cheers


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