The Financial Adviser Standards and Ethics Authority (FASEA) has expanded the list of approved education programs and courses available to meet the body’s education standard, following a consultation process in December 2019.
In an announcement, FASEA said it had registered the 2020 Legislative Instrument and Explanatory Statement for its Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2020 on the Federal Register of Legislation.
The 2020 determination included all bachelor degrees, graduate diplomas, and bridging courses approved by FASEA since the 2018 determination was registered.
“It also includes FASEA approved recognition of prior learning (RPL) for education undertaken to attain professional designations and the associated credits appropriate for the existing adviser pathways set out in FASEA’s education standard,” FASEA said.
“Finally, the 2020 determination includes amendment to historical course/degree details provided to FASEA by higher education providers post registration of the 2018 determination.
Comments
The FASEA education standards are a farce. They have wasted countless hours going back and forward to the universities, wasting their precious resources, building this legislative instrument which contains every possible combination of every financial planning degree ever undertaken. They could have simply stated, 'a bachelor degree, Grad Dip or Masters in FP (or majoring in FP) undertaken before 1 January 2019 is approved'. Done. It could have been that simple and then deployed their resources elsewhere, maybe properly researching the Code of Ethics for example? What a joke. All FASEA care about is appearance. From the exam which has no publicly disclosed pass mark, to the Code of Ethics which everyone agrees is impossible to comply with, through to this farcical Education Standard, everything they do is about appearance. There is no substance, no soul and zero ethics.
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