ASIC waits on ACER contract for adviser exam

ASIC FASEA danielle press

29 October 2021
| By Jassmyn |
image
image
expand image

An announcement on the financial adviser exam dates in 2022 is imminent but the corporate regulator is currently not in a position to publish that information.

During a Parliamentary hearing, the Australian Securities and Investments Commission (ASIC) was asked by Nationals senator, Susan McDonald, when it would announce its plans for the exam in 2022 after the Financial Adviser Standards and Ethics Authority (FASEA) function had moved to ASIC.

ASIC commissioner, Danielle Press, said an announcement from the regulator was imminent.

“We are working with ACER [Australian Council for Educational Research] to get a new contract in place and until that contract is in place, we won't be able to tell you what the dates are going to be,” she said.

“But we do know that it's important for advisers to have those dates and we will be putting them out as soon as we can.”

ASIC chair, Joe Longo, said the regulator could not currently say when it would be making the regulations that were connected to the Better Advice bill that had recently been released.

“We are putting a lot of work into getting ready to assume our new role, or expanded role, that begins in January,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Alex

Planners will be in short supply, with only 376 in FY23–24. In my experience, of this number, only around 20% to 30% wi...

6 hours ago
Peter James

As usual there is no delineation in the article between risk specialist advisers and investment specialist advisers. Thi...

7 hours ago
Mark Harris

Is he serious, improvements from legislation change, all I see is more ASIC compliance and higher costs, this government...

8 hours ago

Insignia Financial has unveiled a new operating model and executive team, including a new head of advice, while three senior executives are set to depart the licensee....

1 week 5 days ago

The $280 billion Australian Retirement Trust is the first superannuation fund off the block to report its performance for the 2023-24 financial year....

3 weeks 1 day ago

Analysis by Chant West of the annual performance of growth superannuation funds has uncovered which ones see the best performance....

5 days 2 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Ardea Diversified Bond F
144.00 3 y p.a(%)
3
Hills International
63.39 3 y p.a(%)