Those financial advisers who have not yet passed the Financial Adviser Standards and Ethics Authority (FASEA) exam have again been left with an element of uncertainty with the Senate passing the necessary omnibus bill, but only with an amendment which must now be addressed by the Government.
The amendment was made by South Australian cross-bencher, Rex Patrick relating to grandfathered proprietry companies with the Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume suggesting the Government would deal with the issue separately.
Indicating her support for the FASEA exam extension elements, Hume dismissed efforts by the Greens to introduce other amendments to the legislation.
She argued that it was time to stop playing games and to deliver what had been promised to financial advisers.
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Apparently the amendments the Greens tried to introduce relate to a COVID-19 support package for the arts sector! This has absolutely nothing to do with the core subject matter of the bill and is just political obstructionism at its worst. It also has nothing to do with environmental issues, the Greens supposed reason for existence.
The Greens are like Choice. They have both become extreme left activist groups that have moved well away from their original noble purpose. The Greens no longer represent environmentalists, and Choice no longer represents consumers.
I am concerned we are not getting a result as soon as possible now...with only 6mths to do and if I fail that would end my 40 yr exp .I have been holding back inticapating exam would be next yr..and now I'm really concerned if I fail ? We all have been told way back exam would be extended. That's why held back..and I see stats most advisors havnt done them? Appreciate if fasea do right thing asap and put my mind and others at rest...johny
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