FASEA exam extension remains in limbo
The Financial Adviser Standards and Ethics Authority (FASEA) exam extension legislation is again in limbo, with the Government having rejected acceptance of an amendment to the omnibus bill in the House of Representatives.
The amendment was imposed by South Australian Senate cross-bencher, Rex Patrick with the support of the Federal Opposition and the Greens on Friday but was rejected by the Government in the House of Representatives today
The Government’s rejection means that the FASEA exam extension remains in limbo.
The Federal Opposition argued for passage of the Patrick amendment in the House of Representatives pointing to the manner in which the Government’s rejection would impact financial planners.
One of the few remaining options for the Government in dealing with the FASEA exam extension is to request that the Australian Securities and Investments Commission deliver a class order exemption.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
