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Guidance Note: Graduate Diploma Qualifications

 

The Financial Adviser Standards and Ethics Authority (FASEA)confirms there are NO APPROVED AQF 8 graduate diplomas available for the purposes of 921B(2)(a) of the Corporations Act.

FASEA will consider such programs for accreditation in the second half of 2018 after further consultation with industry and other stakeholders.

 

Background:

FASEA was established in 2017 to implement reforms set out in the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 – raising the professional, education and ethical standards of Australian financial advisers.

One element of this framework is determined in section 921U (2)(a)(i) where:

  • FASEA will approve bachelor or higher degrees, or equivalent qualifications.

In March 2018, FASEA released, for consultation, guidance regarding education pathways for degrees and equivalent qualifications.  The March 2018 DRAFT consultation framework acknowledged existing approved degrees at AQF 7 (bachelor) and AQF 9 (masters) levels.

The March 2018 guidance proposed a graduate diploma pathway for Existing Advisers.  This proposal currently remains the subject of consultation. The standard will be finalised later in 2018.

FASEA reaffirms there are currently no approved AQF 8 graduate diplomas available for the purposes of 921B(2)(a) of the Corporations Act. Submissions are invited from stakeholders regarding the education pathways guidance.

 

ENDS