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 2022, to pass the Financial Adviser Exam and until 1 January 2026, 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 Opening Statement – House of Representatives Standing Committee on Economics

MEDIA RELEASE FASEA appeared at the House of Representatives Standing Committee on Economics on the 30 June 2020.  FASEA's opening statement can be found here.The Financial Adviser Standards and Ethics Authority Limited was established in...

FASEA Consultation – three month Continuing Professional Development relief

FASEA has today released Corporations (Relevant Providers Continuing Professional Development Standard) Determination (Amendment) 2020 for consultation. FASEA recognises the challenges Covid-19 business disruption presents advisers and...

Three month CPD relief for advisers in recognition of COVID-19 business disruption

MEDIA RELEASE The Financial Adviser Standards and Ethics Authority (FASEA) has received enquiries and requests for relief relating to compliance with CPD requirements due to COVID-19 business disruption. FASEA recognises the challenges...

FASEA confirms remaining Exam sitting dates for 2020 and adviser participation rates

FASEA confirms the remaining 2020 sittings for the Adviser Exam will be held over 5 days in each of August, October and November. The Exam is scheduled to be offered across 327 separate sessions in those months.  Advisers will have a...

FASEA welcomes certainty around Exam and Education extension

MEDIA RELEASE FASEA confirms that the Senate has today passed the Bill to amend the Corporations Act to extend transitional timeframes for existing advisers to comply with Corporations Act (2001) Education and training standards and to...

FASEA approves University of Adelaide Historical Graduate Diploma in Global Wealth Management

FASEA has today confirmed its approval of the historical Graduate Diploma in Global Wealth Management for University of Adelaide offered between 1 January 2006 and 31 December 2011. Advisers who have completed this course of study are...

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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.