WELCOME TO FASEA
The Financial Adviser Standards and Ethics Authority (FASEA) was established in April 2017 to set the education, training and ethical standards of licensed financial advisers in Australia.
In June 2017, FASEA was declared as the standards body under the Corporations Act 2001. Under this act, FASEA is responsible for:
- approving degrees or higher or equivalent qualifications
- approving foreign qualifications
- approving and/or administering the exam
- selecting an appropriate common term for provisional relevant providers
- determining the requirements for financial advisers whose CPD year changes and whether to modify the operation of the Corporations Act for these individuals, for example, by requiring licensees to report non-compliance with the CPD requirement at a time other than at the end of their new CPD year
- setting supervision or other requirements for provisional relevant providers
- determining the continuous professional development (CPD) requirements in relation to licensees’ CPD years
- determining the requirements for the professional year
- determining the bridging course requirements for existing providers
- setting the Code of Ethics.