Government proposal to simplify the regulatory framework applying to financial advisers

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The government announced on Wednesday its intention to expand the operation of the Financial Services and Credit Panel (FSCP) within the Australian Securities and Investments Commission to encompass the functions of a single, central disciplinary body for financial advisers. The government further proposed that the standard-making functions of FASEA would move to Treasury. The remaining

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FASEA releases October exam results

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FASEA has released exam results from the eighth Financial Advisers Exam held in October 2020. Result highlights include: over 10,460 advisers have passed the adviser exams held to date overall, 89.5% of advisers who have sat the exam (irrespective of how often it was sat) have passed, representing 49% of advisers on ASIC’s Financial Adviser

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FASEA provides remote November Exam sitting option for financial advisers in Melbourne due to Covid-19 restrictions

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Due to COVID-19 restrictions in place in Victoria and the continued closure of Melbourne metropolitan exam venues, FASEA advises that the Melbourne physical location exams are not able to be offered for the November sitting of the Financial Adviser Exam. Advisers who have registered for a Melbourne physical location exam will have the option to

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FASEA consultation – Draft Financial Planners & Advisers Code of Ethics 2019 Guide

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Following consultation with stakeholders in 2019 and early 2020, FASEA has released the draft Financial Planners & Advisers Code of Ethics 2019 Guide for consultation. The draft guide provides an explanation of the intent and application of the Code’s values and standards. It uses fundamental questions to help illustrate the Code and highlights the requirement

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FASEA releases August exam results

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FASEA has released exam results from the seventh Financial Advisers Exam held in August 2020. Result highlights include: the exam was held from 13 to 18 August in exam centres and online 82% of candidates passed the August exam (compared with an average of 84% across all exams) 1,521 advisers sat the exam compared with

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FASEA provides remote October Exam sitting option for financial advisers in Melbourne due to Covid-19 restrictions

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Following the reimposition of Stage 4 stay at home restrictions for metropolitan Melbourne and the continued closure of exam venues, FASEA advises that Melbourne metropolitan physical location exams will not be offered for the October sitting. Advisers who have registered for a Melbourne physical location exam will have the option to sit the exam online

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FASEA approves additional electives for the Securities Institute Graduate Diploma of Applied Finance and Investment

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FASEA has confirmed its approval of the following additional financial planning electives for the Securities Institute Graduate Diploma of Applied Finance and Investment (GDAFI) from 1991 until 2007: E114 Technical Analysis E171 Specialised Techniques in Technical Analysis Advisers who have completed the GDAFI with Investment Management Stream Major or GDAFI with three core units and

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FASEA confirms dates and venues for 2021 Exam sittings

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FASEA has confirmed that, subject to COVID-19 restrictions, it will run six Financial Adviser exam sittings in 2021 in 31 locations across metropolitan and regional Australia.  Alternatively, advisers may elect to sit the Exam online remotely at their preferred time during the Exam sitting window. The 2021 exam sittings are in addition to remaining 2020 sittings

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FASEA releases draft amendments to the Education Legislative Instrument

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During the course of 2020 FASEA has announced the approval of a number of current degrees and bridging courses and the recognition of prior learning of advisers through the approval of historic degrees and awarding of credit for coursework to attain a professional designation. In announcing those approvals, FASEA noted they would be added to

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FASEA approves University of New South Wales Graduate Diploma and bridging courses

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FASEA has confirmed the Graduate Diploma of Financial Planning for the University of New South Wales offered from 1 July 2019 as an approved degree. Advisers who complete this course of study will meet the education standard. In addition, FASEA has approved the following two (2) bridging units offered by the University: Ethics for Professional

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