Opportunity for FASEA exam retake in 2022
The Government has granted a limited one-time extension to advisers who have failed the Financial Adviser Standards and Ethics Authority (FASEA) exam at least twice to sit it next year.
A statement from Minister for Superannuation, Financial Services and the Digital Economy, Jane Hume, said there would be limited exemptions available.
These would apply to those who had made previous exam attempts but failed at those.
“For those who have made two genuine attempts to pass the FASEA exam, and were unable, there will be a one-time, limited extension into next year. There will be at least one further opportunity to pass the exam offered in 2022 for those who qualify for the exemption. Costs, and timings for the 2022 period have yet to be confirmed,” she said.
“If advisers have not sat the exam twice prior to the end of this year, no extension will be granted. Please do not delay- these exemptions will be very limited.”
There were only three more exam sittings taking place in 2021, July, September and November.
AUTHOR
Laura Dew
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
