Section 921U (2) (a) (i) of the Corporations Act 2001 (the Act) requires FASEA to approve bachelor or higher degrees, or equivalent qualifications that relevant providers are required to complete under Section 921B(2)(a) of the Act. This Act includes the possibility of recognition of prior learning (RPL) for completed formal and informal study pursuant to section 1546B(1)(b).
Advisers are required to complete a bachelor or higher or equivalent qualification, the determination includes a list of current and historical degrees approved by FASEA. This determination will be updated on an ongoing basis, as additional courses are approved.
FASEA has added to the approved list, the newly formed and approved Bachelor of Commerce (Finance and Financial Planning) at Curtin University and has re-accredited and approved Western Sydney University’s Bachelor of Accounting Financial Planning or Financial Planning and Taxation and Master of Financial Planning.
Financial planning (which includes financial advice areas of superannuation, retirement, insurance, estate planning etc) and investments (which include all types of investment eg shares, derivatives, foreign exchange, options etc) has been added to the relevant degree definition;
Recognition of prior learning: advisers holding a non-relevant degree who have completed between 4 and 7 of the relevant degree knowledge areas will be awarded 2 credits.
To access the Legislative Instrument and Explanatory Statement, please follow this link: Degrees, Qualifications and Courses Standard Determination
To access the Education Pathways Policy, please follow this link: FPS001 Education Pathways Policy Statement