New Entrant Registration Form

Part A – Professional Year commencement dates

Part B – Information about the New Entrant



Upload certified copies of the transcript or interem transcript of the New Entrant's FASEA approved degree, and/or Ethics for Professional Advisers Bridging Course.

Information about the financial advisory practice in which the New Entrant works


Contact Person




Part C – Information about the Supervisor

*Relevant Provider is defined is section 910A of the Corporations Act, 2001 (Cth)


Part D – Information about the Australian Financial Services Licensee (Licensee)
Responsible Manager of the Licensee

Declaration

As a delegate of the Licensee I confirm that:

  • the New Entrant has a FASEA approved degree, or is in the final stages of a FASEA approved degree;
  • the Supervisor is a current Relevant Provider (financial adviser with an “active” status on the ASIC Financial Adviser Register) with at least two years’ experience as a Relevant Provider;
  • a Professional Year Plan, which meets the requirements of section 9 of the Corporations (Work and Training Professional Standard) Determination 2018 (Standard), has been developed and agreed to by the Licensee, the Supervisor and the New Entrant.

Further, the Licensee confirms it will ensure that:

  • appropriate resources and opportunities will be available to ensure the New Entrant meets the Standard;
  • retail clients who deal with the New Entrant are:
    • informed the New Entrant is undertaking supervised work and training; and
    • provided with the name and contact details of their Supervisor.
  • where relevant, it has assessed the New Entrant and kept records and reasons for granting a New Entrant accelerated progression through quarter 1 and / or quarter 2 of their PY;
  • the New Entrant is not referred to as a Provisional Financial Planner or Provisional Financial Adviser before passing the FASEA Exam and being authorised on the ASIC Financial Advisers Register;
  • accurate records are kept by it, the New Entrant and the Supervisor of the matters referred to in section 13 of the Standard. This will include the New Entrant’s PY Logbook.
  • it updates ASIC records when the New Entrant passes the FASEA Exam and becomes a Provisional Relevant Provider and when they complete their Professional Year and becomes a Relevant Provider;

Privacy

By submitting this Registration Form, you agree that FASEA and any of FASEA’s third party service providers and their respective related bodies corporate and associates can collect, hold and use the personal information provided above to process and effect the registration of the New Entrant. If you do not provide the information requested by the form the application for registration may not be able to be processed efficiently or at all. The information collected may also be disclosed if that disclosure is required or authorised by law.

You agree to advise the New Entrant and the Supervisor of the content of this Privacy Statement at the time of collecting their information from them. Please see FASEA’s Privacy Policy which details how a person may access the personal information we may hold about them and how we deal with complaints about breaches of the Australian Privacy Principles.


Checklist

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

  • Uploaded a certified copies of the academic transcript or interim transcript of the New Entrant’s FASEA Approved Degree and if relevant the FASEA Approved course in Ethics

Explanatory notes to the Registration Form for the New Entrant’s Professional Year

Who should use this Form?

The Responsible Licensee1  (Licensee) is required to notify FASEA using this form to record the Professional Year (PY) arrangement between themselves as a Licensee, the identified Supervisor and the New Entrant who is commencing their PY.

Licensees are required to notify FASEA within 30 days of the commencement of the Professional Year. After processing the application form, FASEA will issue a New Entrant Registration Number (NERN).

New Entrant

In this Form, the term New Entrant applies to an individual who has completed a FASEA Approved Degree, or is in the final stages of a FASEA Approved Degree and commenced their Professional Year.

A New Entrant is required to:

  • complete a FASEA Approved Degree before registering to sit the exam: and
  • pass the Exam2 before commencing quarter 3 of the PY, being authorised by a licensee and using the term Provisional Financial Adviser/Planner.

The New Entrant will be required to use the NERN to register for the Exam.

Understanding the obligations of a Licensee, Supervisor or New Entrant

Licensees, Supervisors and New Entrants must meet specified obligations when they agree to participate in a Professional Year.

These obligations are available on FASEA’s website www.fasea.gov.au/professional-year

Who should submit this form?

This Form should be submitted by a delegate of the Licensee who has the  required level of authority, for example a Responsible Manager.

When will FASEA issue the New Entrant Registration Number?

FASEA will usually issue the NERN within 15 business days of receiving a correctly completed Registration Form for a New Entrant’s Professional Year, that is accompanied by a certified copy of the transcript of the New Entrant’s FASEA approved degree, or an interim transcript or other document that demonstrates the New Entrant is in the final stages of a FASEA approved degree.

Note that when a New Entrant is in the final stages or a FASEA approved degree, the Licensee must provide FASEA with a certified copy of the transcript for the completed FASEA approved degree before the New Entrant can register to sit the Exam.

Privacy Policy

FASEA’s Privacy Policy can be accessed at www.fasea.gov.au

1Responsible Licensee is the licensee who has authorised, or proposes to authorise, the person to provide personal advice to retail clients, on behalf of the Licensee, in relation to relevant financial products.
2This is the exam set out in Corporations (Relevant Providers Exam Standard) Determination 2018. Passing this exam is one of the education and training standards specified in section 921B of the Corporations Act, 2001 (Cth).

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.