Financial advisers association hopes for single licence

KUALA LUMPUR: Local financial advisers need not apply for separate licences to provide insurance and investment consultation in the near future, if the single licensing framework proposed by the Association of Financial Advisers Malaysia (AFA) goes through.

With the joint regulatory oversight by Bank Negara Malaysia and Securities Commission (SC), AFA hoped the harmonisation of existing regulations would go through next year, allowing financial advisers a fair playing field with other financial services intermediaries like insurance agents and banks.