It's not just advisers who have done nothing for years who are affected by FASEA's educational requirements. There's a lot of advisers who have undertaken a great deal of relevant education and are highly competent because of it. But the conflicted FASEA Board members are saying much of that education was worthless. They're forcing advisers to repeat their education. In many cases this will involve paying course fees or purchasing textbooks from which FASEA Board Members will personally benefit.
The FASEA legislation was well intentioned and highly appropriate. The way that legislation has been hijacked and abused for personal gain by members of the FASEA Board is worthy of a corruption inquiry.
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