Unit of competency Outline

Date retreived
23/07/2026 11:35 AM AWST

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Provide advice in the regulated emissions market

Provide advice in the regulated emissions market

Unit of competency
National Code
FNSASICL503
State Code
AUQ39
TGA Status
Deleted
DTWD Status
Deleted
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
16/09/2015
Nominal Hours
60
Description
This unit describes the skills and knowledge required to analyse client needs and provide advice ethically and professionally on regulated emissions products and services, 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.It applies to individuals who analyse client needs and provide advice about carbon markets products and services using well-developed interpersonal skills and proficient communication and self-management skills. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or ASIC for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Establish relationship with client
  • 1.1 Establish relationship with client by communicating directly and openly
  • 1.2 Inform client of role and capacity of adviser and licensee responsible for adviser's conduct
  • 1.3 Establish client’s understanding of regulated emissions market to determine range of services to be offered.
  • 1.4 Explain scope and limitation of advice and services, including fee and charging methodology, procedures for complaints handling and circumstances in which they should be engaged
  • 1.5 Respond to enquiries in relation to services and products to be provided in professional manner
2. Identify and analyse client’s objectives, needs, financial situation and risk profile
  • 2.1 Establish client's motivation for investing in regulated emissions market
  • 2.2 Identify and document all relevant liabilities and assets for client, expectations of cash flow and any relevant taxation obligations
  • 2.3 Identify client needs by encouraging expression of goals and objectives (short-term, medium-term and long-term) relevant to product
  • 2.4 Assess client's risk profile and agree on rating with client
  • 2.5 Explain investment implications for client for achieving objectives and needs based on client’s risk profile, cash flow and taxation implications
  • 2.6 Consult with client throughout analysis for further clarification where necessary
  • 2.7 Analyse whether there is need for specialist advice and refer to appropriate adviser if required
3. Develop strategy for client
  • 3.1 Assess broad strategies available to client
  • 3.2 Discuss strategies identified with client to determine and agree on most suitable approach for client needs, objectives and risk profile
  • 3.3 Select appropriate emissions products and undertake research, analysis and financial modelling to establish which product mix best meets client's needs, objectives and risk profile
  • 3.4 Prepare statutory and organisational strategy and transaction documentation
  • 3.5 Identify and discuss with client any conflicts of interest arising from selected strategy
4. Present and negotiate strategies and solutions with client
  • 4.1 Explain to client proposed transaction and strategic methodology used, in clear and unambiguous way
  • 4.2 Check that client understands relevant details, risks, terms and conditions, advantages and disadvantages of transaction recommended
  • 4.3 Negotiate and resolve any concerns or issues that client has regarding proposed transaction
  • 4.4 Explain fee and cost structures for transaction and timeframes for execution
5. Implement and document agreed plan, policy or transaction
  • 5.1 Prepare and provide client with written documentation where required by law or codes of practice that incorporate basis on which advice is given
  • 5.2 Explain supporting documentation, and confirm content and advice against established investment requirements, risk profile and objectives
  • 5.3 Seek confirmation that client understands proposed transaction and its fee implications, and gain formal agreement to proceed in line with regulatory guidelines, accepted industry practice and organisational policy
  • 5.4 Exchange signed copies of appropriate documentation and signed agreement with client
6. Determine and agree on any ongoing services required
  • 6.1 Agree with client on type and form of ongoing service to be provided, including reporting on performance of this transaction and other associated services
  • 6.2 Explain fees and costs for ongoing and specifically defined service and obtain confirmation of understanding from client
No information
No information
Replaces
State Code National Code Title Type
WE876 FNSASICL503A Provide advice in the regulated emissions market Unit of competency