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Well you can blame the Heads of all the Stockbroking firms for that. They went to Canberra as a Group and tried to get out of ALL the new requirements. They all lobbied hard for total exemption. If they had just said 'Hey we'll do the FASEA Exam but let us off the degree requirement' they probably would have won a carve out for themselves and Insurance Advisers. But no, they were not that smart.