The Corporations Act 2001 (the Act) at s921U(2)(a)(i) requires that the Standards Authority must approve bachelor or higher degrees, or equivalent qualifications for the purposes of a person being able to meet the education and training standards to be a relevant provider (s 921B(2)).
This policy represents a summary of FASEA’s policy requirements for approval of education programs and courses and associated issues such as recognition of prior learning (RPL) that must be met for an education provider to deliver a FASEA approved program and course for the purposes of s921B(2) of the Act
Financial services and financial advice are wide fields of education and practice with Relevant Providers undertaking a range of educational activities throughout their careers. This includes ongoing professional development, study towards professional designations and study in specialist areas of practice. While content from some of the areas is covered in the framework set out in this document, the Standards Authority does not intend that this policy will replace other professional or specialist education activities.
It is instead intended to underpin the requirements for approval of programs and courses for the purposes of the FASEA Education Standard for new entrants from 1 January 2019 and for the existing adviser to meet transition requirements under Section 1546B of the Act by 1 January 2024. The outcome of a successful application under this policy will be an approved degree and course list that will be published in a Legislative Instrument which will be updated over time.