ASIC waits on ACER contract for adviser exam

ASIC FASEA danielle press

29 October 2021
| By Jassmyn |
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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.

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