The Financial Adviser Standards and Ethics Authority (FASEA) has opened the process for financial planners with foreign qualifications to have them approved.
The authority said it had released its online Foreign Qualifications Assessment Service form intended to enable people with qualifications obtained outside of Australia to apply for FASEA approval.
FASEA chief executive, Stephen Glenfield said the opening of the Foreign Qualifications Assessment Service would enable persons holding international qualifications to obtain approval of their qualifications and to confirm any further education they must undertake to continue in the industry after 1 January, 2024.
The FASEA announcement said that when applying to FASEA, a person would need to provide an assessment of the qualification by a Department of Education and Training approved body as well as a certified copy of an academic transcript of the qualifications.
“FASEA will assess the foreign qualification for equivalence to degrees or qualifications already approved by FASEA,” it said. “FASEA may specify courses for the new entrant or existing adviser to complete in addition to their foreign qualification.”
“As FASEA approves Foreign Qualifications they will be added to FASEA’s Foreign Qualification Precedent Database.”