Financial Adviser Standards and Ethics Authority

The Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 established the Financial Adviser Standards and Ethics Authority (FASEA) in April 2017, to set the education, training and ethical standards of licensed financial advisers in Australia.

The new requirements commenced on 1 January 2019.

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New Entrants are required to hold an Approved Degree before they commence their Work and Training (Professional Year) requirement. They must be mid way through their Professional Year before they are eligible to sit the Financial Adviser exam and commence using the term Provisional Financial Adviser or Provisional Financial Planner.

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The annual requirement for 40 hours Continuous Professional Development commenced on 1 January 2019. Provisional Financial Advisers will be required to undertake CPD after completion of their Professional Year.

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Existing Advisers have until 1 January 2021, to pass the Financial Adviser Exam and until 1 January 2024, to reach an education standard equivalent to an Approved Degree.

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The Code of Ethics will commence on 1 January 2020, with all Financial Advisers required to adhere to the Code from that day onwards.

New Entrant

I would like to enter the financial advice industry and want to know where to start

Existing Adviser

I am an Existing Adviser and want to know what I need to do to meet the standards

Higher Education Providers

I am a Higher Education Provider looking to offer accredited courses

FASEA Standards

View details of FASEA’s standards for New Entrants and Existing Financial Advisers

FASEA releases September Exam Results

FASEA today released exam results from the second Financial Adviser Exam held in September 2019.  Result highlights include: the exam was held in 8 metropolitan and 7 regional centres across Australia from 19 September to 23 September...

Update to Code of Ethics Guidance Release

Consultation Period Further to the recent (18 October 2019) release of FG002 Guidance to the Code of Ethics, the Financial Adviser Standards and Ethics Authority wishes to confirm the first consultation with designated representatives of...

FASEA Releases Code of Ethics Guidance

MEDIA RELEASE In 2017 the Commonwealth Parliament amended the Corporations Act 2001 (“the Act”) to raise the education, training and ethical standards of licensed financial advisers in Australia. Under the Act, FASEA was declared the...

Update from FASEA on the Financial Adviser Examination

MEDIA RELEASE FASEA continues to work closely with ACER to ensure exam processes are streamlined, accessible and effective and exam sitting opportunities are optimised. FASEA September Exam The September exam was held in 15 centres across...

FASEA releases additional practice questions

FASEA has released additional practice questions to help advisers prepare for the Exam (link). A revised candidate video, providing visibility of exam day registration process and the exam environment is also available (link). For those...

Director Resignation – Mr Matthew Rowe

The Financial Adviser Standards and Ethics Authority confirms the resignation of Matthew Rowe as a Director of the Standards Authority, effective August 14, 2019. Mr. Rowe is the current CEO and Managing Director of an ASX-listed entity,...

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The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.

 

 

The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.