Foreign Qualification
Assessment Application Form

This online form is for those individuals who have obtained their qualification outside Australia who are required to have their foreign qualification assessed by FASEA to determine whether they meet the education standard. Before applying to FASEA, an individual must have an assessment by a Department of Education and Training (DET) approved body. This will assess whether the foreign qualification is equivalent to a bachelor or higher degree that meets the Australian Qualifications Framework (AQF) standard. For information regarding DET Approved bodies, refer to FASEA’s DET Approved Bodies Guidance.

Note:  To ensure all your qualifications are taken into consideration please also include any Australian qualification in your application. 

*Please refer to the definitions in the explanatory notes below.

Checklist

Before submitting the Application Form, please make sure you have:

  • Uploaded a certified copy of a DET assessment for each foreign qualification;
  • Uploaded a certified copy of the academic transcript for each Foreign degree, qualification or course;
  • Uploaded a certified copy of the academic transcript for each Australian degree, qualification or course;
  • Uploaded a certified document that is evidence you were licensed or otherwise authorised to provide personal financial advice by an overseas regulator at any time during the period from 1 January 2016 to 1 January 2019 and not prohibited from providing such advice on 1 January 2019 (if required);
  • Selected and paid the correct application fee.

Explanatory Notes

Who should use this Application Form?

This application form is for assessments that include at least one foreign qualification.

A Foreign Qualification is a Bachelor or higher degree or an equivalent qualification that was awarded by a Higher Education Provider outside Australia.

Both Existing Advisers and New Entrants to the industry can apply to have their foreign qualifications assessed.

You should use this form if you are making a new application to FASEA for an assessment of your degree(s) or other qualification(s).

Do not use this form if:

  • you are seeking feedback on only Australian qualifications.
  • you wish to appeal an assessment FASEA has already made. (Information about the appeals process appears on the FASEA website); or
  • you are responding to a request from FASEA for additional information relating to an existing assessment application.

Note: If you have an ‘approved degree’ listed on the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2018, you do not also require an assessment of your foreign qualifications.

Who is an Existing Adviser?

The Corporations Act 2001, at section 1546A, states that an existing provider (also referred to as an Existing Adviser) means:

  • (a) a person who:
    • (i) is a relevant provider at any time between 1 January 2016 and 1 January 2019 (except a person who has ceased to be a relevant provider under subsection 1546B (4) or (5)); and
    • (ii) is not banned, disqualified or suspended under Division 8 of Part 7.6 on 1 January 2019; or
  • (b) a person who:
    • (i) at any time between 1 January 2016 and 1 January 2019, provides personal advice in a foreign country to retail clients in relation to relevant financial products; and
    • (ii) is not prohibited under the law of the foreign country from providing such advice on 1 January 2019.

If you do not meet the definition of an Existing Adviser, then you are classified as a New Entrant.

Which qualifications will FASEA assess?

Foreign qualifications

You must include degrees obtained from foreign educational institutions which have a Department of Education and Training (DET) assessment of Australian Qualification Framework (AQF) 7 and above in your Application for Assessment.

Australian qualifications

If you also have Australian qualifications which may assist FASEA to determine the additional courses you must complete so that the foreign qualifications are equivalent to a degree or qualification approved in the Corporations (Relevant Providers Degrees,Qualifications and Courses Standard) Determination
2018 (the Legislative Instrument), you may include them in the same Application for Assessment of your foreign qualifications.

You may also include the following types of Australian qualifications in your Application for Assessment:

  • A degree obtained from Australian educational institutions which are at AQF 7 and above. These include bachelor degrees, master degrees and doctorates.
  • Any study undertaken to obtain an Australian professional designation, approved by FASEA and listed in the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2018. Professional designations are awarded by professional associations. Examples of professional designations include Chartered Accountant (CA), Certified Public Accountant (CPA) and Certified Financial Planner (CFP).
  • An Advanced Diploma of Financial Planning (ADFP).
  • Individual subjects completed outside of a degree structure, provided those subjects were at the level of AQF7 or above.

Which Australian qualifications are not eligible for assessment?
Australian qualifications and certifications that are not eligible for assessment include:

  • RG146 certifications.
  • Any Australian professional designation listed in the Legislative Instrument but which you attained without completing approved study.
  • Any study undertaken to obtain an Australian designation that has not been approved by FASEA and is not listed in the Legislative Instrument.

Years of work experience will not be considered in this assessment process.

    Fees

     The processing fee for each Application for Assessment is $120 for a simple assessment and $250 for a complex assessment. Information about the difference between a simple and a complex assessment appears on the FASEA website. Your application will not progress until FASEA receives your payment.

    Which documents must accompany this Application Form?

    Evidence that you are an existing financial adviser

    Foreign Advisers – if applicable, a certified copy of a document that is evidence you were licensed, or otherwise authorised, to provide personal financial advice, in relation to relevant financial products, by an overseas regulator at any time during the period from 1 January 2016 to 1 January 2019 and not prohibited from providing such advice on 1 January 2019.

    Australian Advisers – no additional documents are required but you need to provide your 9 digit AR Number (as it appears on the ASIC’s Register of Financial Advisers) when completing the Application Form.

    Evidence for the qualifications being assessed

    For foreign qualifications you must provide:

    • a certified copy of a DET assessment for each qualification;
    • a certified copy of the academic transcript for each degree or diploma

    For Australian qualifications you must provide:

    • a certified copy of the academic transcript for each degree or diploma; and
    • a certified copy of the certificate for each designation together with a certified copy of the academic transcript for any approved study undertaken to attain that designation.

    FASEA does not accept original documents and it does not accept uncertified copies of documents.

    FASEA will not commence its assessment of your degree or qualification before it receives the correct, certified documentation (and payment of the fee).

    FASEA may request additional information to support its assessment of your qualifications (for example details of course/subject guides). The assessment will not commence until this information is provided.

    What is a certified copy?

    A certified copy is a copy (often a photocopy) of a primary document that has on it an endorsement or certificate that it is a true copy of the primary document. It does not certify that the primary document is genuine, only that it is a true copy of the primary document produced to the person making the certification.

    Who can certify a copy?

    In Australia

    Documents must be certified by a person who is authorised as a witness for statutory declarations under Statutory Declarations Regulations 2018 – Schedule 2. This schedule provides a wide range of authorised occupations and office holders who may certify a document.

    Outside Australia

    • an authorised officer of an Australian overseas diplomatic mission;
    • an authorised officer of an Australian Education Centre;
    • a university or college Registrar;
    • a Notary Public; or
    • an authorised officer in accordance with local legislation or practice

    FASEA requires that all documentation is translated to English.

    You cannot certify your own documents, nor can you certify documents for members of your family.

    How to certify documents

    The original document must be viewed by the certifier and they must personally copy the original document and verify it by completing the following:

    • use a stamp or write by hand on the copy: ‘this is a true copy of the original document sighted by me’ on each page of the document;
    • sign the statement on each page;
    • write by hand the following details: – name and business address – contact telephone number – profession or occupational group – date verified
    • affix the official stamp or seal of the verifier’s organization on the copy, if the organization has such a stamp; and
    • if the certifying officer is a Justice of the Peace the certifying officer must list the registration number and the Australian state/territory of registration

    The date on the certification should be no older than 12 months as at the time that we receive your documents.

    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.