Unit of competency Outline
Date retreived
23/07/2026 1:08 PM AWST
23/07/2026 1:08 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Provide advice in the regulated emissions market
Provide advice in the regulated emissions market
Unit of competency
National Code
FNSASICL503A
FNSASICL503A
State Code
WE876
WE876
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
29/07/2014
Nominal Hours
60
Description
This unit (in conjunction with the defined prerequisites) describes the performance outcomes and skills required to satisfy the training requirements of Australian Securities and Investments Commission (ASIC) Australian Financial Services (AFS) licensing at Tier 1 level in the area of skills defined for competent performance by those advising in carbon markets, as defined in RG146.
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 the role and capacity of the adviser, and the licensee responsible for the adviser's conduct
- 1.3 Establish client’s understanding of the regulated emissions market in order to determine the range of services to be offered.
- 1.4 Explain the scope and limitation of the advice and services including fee and charging methodology, procedures for complaints handling and the circumstances in which they should be engaged
- 1.5 Respond to enquiries in relation to the services and products to be provided in a professional manner
2. Identify and analyse the client’s objectives, needs, financial situation and risk profile
- 2.1 Establish client's motivation for investing in the regulated emissions market
- 2.2 Identify and document all relevant liabilities and assets for client, their expectations of cash flow and any relevant taxation obligations
- 2.3 Identify client needs by encouraging expression of goals and objectives (short, medium and long-term) relevant to the product
- 2.4 Assess client's risk profile, and agree the rating with them
- 2.5 Explain the investment implications for client for achieving their objectives and needs based on their risk profile, cash flow and taxation implications
- 2.6 Consult with client throughout the analysis for further clarification where necessary
- 2.7 Analyse whether there is a need for specialist advice and refer to an appropriate adviser if required
3. Develop a strategy for client
- 3.1 Assess the broad strategies available to client
- 3.2 Discuss the strategies identified with client to determine and agree on the most suitable approach for their needs, objectives and risk profile
- 3.3 Select the 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 the proposed transaction and the strategic methodology used in a clear and unambiguous way
- 4.2 Check that the client understands the relevant details, risks, terms and conditions, advantages and disadvantages of the transaction recommended
- 4.3 Negotiate and resolve any concerns or issues that client has regarding the proposed transaction
- 4.4 Explain the fee and cost structures for the transaction and the 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 the basis upon which the advice is given
- 5.2 Explain the supporting documentation, and confirm the content and advice against the established investment requirements, risk profile and objectives
- 5.3 Seek confirmation from client that they understand the proposed transaction and its fee implications, and gain formal agreement to proceed in line with regulatory guidelines, accepted industry practice and organisation policies
- 5.4 Exchange signed copies of appropriate documentation and the signed agreement with client
6. Determine and agree any ongoing services required
- 6.1 Agree with client what type and form of ongoing service will 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
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Assets and liabilities includes
Can include personal, financial and business details. Will depend on whether client is an individual or business, and the business structure utilised
Financial modelling
The scope of meaning of this term will depend on the client and the nature of their investment objectives. It may refer to financial modelling for strategy development for a client or to financial modelling for a project if the client is a business investing in a carbon farming initiative
Assets and liabilities includes
Can include personal, financial and business details. Will depend on whether client is an individual or business, and the business structure utilised
Financial modelling
The scope of meaning of this term will depend on the client and the nature of their investment objectives. It may refer to financial modelling for strategy development for a client or to financial modelling for a project if the client is a business investing in a carbon farming initiative
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
Establish and define the nature and scope of the client and adviser relationship
Collect qualitative and quantitative information in order to perform strategic analysis
Develop a strategic plan in emissions products that is appropriate for the client profile
Evaluate the financial strategy with respect to local and international financial markets and factors influencing the regulated emissions market
Develop advice that adheres to the relevant regulatory, ethical, industry and organisational requirements
Demonstrate application of ethical principles in decision making during the advising process
Communicate the details of a financial advice document and establish client understanding of the proposal
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
that the intent and purpose of the unit is matched with an appropriate choice and balance of assessment instruments
required skills have been adequately demonstrated and assessed in both breadth and depth
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
analysis of responses to case studies and scenarios
setting and reviewing client advisory simulations
observation of role plays
oral or written questioning to assess candidate's knowledge of the advice process and its application to the product or market sector
evaluating - portfolios covering the advisory cycle
analysis of critique of colleague' s workplace advising practice
direct questioning combined with review of portfolios of evidence and third-party workplace reports of on-the-job performance by the candidate
This unit forms part of a suite attesting to the competence of an occupation operating in a regulated environment. The expectation of the regulator is that assessment instruments chosen will provide robust testament to both the knowledge and skill of the candidate. The use of one single instrument is not appropriate in the assessment of this unit.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
Establish and define the nature and scope of the client and adviser relationship
Collect qualitative and quantitative information in order to perform strategic analysis
Develop a strategic plan in emissions products that is appropriate for the client profile
Evaluate the financial strategy with respect to local and international financial markets and factors influencing the regulated emissions market
Develop advice that adheres to the relevant regulatory, ethical, industry and organisational requirements
Demonstrate application of ethical principles in decision making during the advising process
Communicate the details of a financial advice document and establish client understanding of the proposal
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
that the intent and purpose of the unit is matched with an appropriate choice and balance of assessment instruments
required skills have been adequately demonstrated and assessed in both breadth and depth
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
analysis of responses to case studies and scenarios
setting and reviewing client advisory simulations
observation of role plays
oral or written questioning to assess candidate's knowledge of the advice process and its application to the product or market sector
evaluating - portfolios covering the advisory cycle
analysis of critique of colleague' s workplace advising practice
direct questioning combined with review of portfolios of evidence and third-party workplace reports of on-the-job performance by the candidate
This unit forms part of a suite attesting to the competence of an occupation operating in a regulated environment. The expectation of the regulator is that assessment instruments chosen will provide robust testament to both the knowledge and skill of the candidate. The use of one single instrument is not appropriate in the assessment of this unit.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUQ39 | FNSASICL503 | Provide advice in the regulated emissions market | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D722 | FNS51011 | Diploma of Financial Markets | Qualification |