FASEA extension still subject to legislation

Advisers need to understand that legislation has yet to pass the Parliament extending the Financial Adviser Standards and Ethics Authority (FASEA) exam deadline, according to FASEA  chief executive, Stephen Glenfield.

Addressing the Money Management Future of Wealth Management Conference in Sydney today, Glenfield said that while FASEA was aware of the Government’s announcement regarding extending the time-table, it was still obliged to operate under the original timetable.

“FASEA has no view on the extension, we are working to the currently legislated timetable,” he said.

Glenfield said that planners needed to understand that legislative amendments needed to pass both houses of the Parliament before the extension became law and should predicate their decisions on that fact.