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 approves additional historical and new degrees and bridging courses

Historical degree – University of Canberra FASEA has today confirmed its approval of the historical Graduate Diploma in Financial Planning for University of Canberra commenced between 1 January 2003 and 31 December 2005. Advisers who have...

FASEA approves additional Recognition of Prior Learning for FPA and CPA

The Standards Authority has approved additional applications for recognition of coursework undertaken to attain a professional designation from the Financial Planning Association (FPA) and the Certified Practicing Accountants (CPA)....

FASEA welcomes reappointment of directors

MEDIA RELEASE The Financial Adviser Standards and Ethics Authority (FASEA) notes the Government’s reappointment of Professor Mark Brimble and Dr. Simon Longstaff AO as part-time directors of FASEA for a further three-year period...

Guidance on CPD compliance arising from COVID-19 business disruption

MEDIA RELEASE The Financial Adviser Standards and Ethics Authority (FASEA) has received enquiries relating to operation of CPD requirements resulting from current COVID-19 business disruption. FASEA recognises the challenges presented by...

Adviser Exam Sittings: FASEA to cancel face to face April Exam and substitute with remote online options

MEDIA RELEASE The Financial Adviser Standards and Ethics Authority (FASEA) understands and appreciates the unprecedented nature of the COVID-19 global pandemic and its evolving impact in Australia on the business as usual routine of...

April 2020 Exam – ACER Advice on Coronavirus COVID-19

ACER takes the health and wellbeing of all the people we interact with seriously. Many of our tests bring together large groups of people and some candidates travel from overseas locations. These factors present potential risks following...

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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.