Four FASEA exams sittings in 2022
There will be most likely four financial adviser exam sittings next year, Australian Securities and Investments Commission (ASIC) commissioner, Danielle Press, said during a Parliamentary hearing last week.
Senator Bert van Manen, asked the corporate regulator on its expanded responsibilities it would take on from 1 January, 2022, following the transition of the Financial Adviser Standards and Ethics Authority (FASEA) exam to ASIC and the entity to Treasury.
With regards to ensuring a smooth transition, Press said there was a lot of work being done and ASIC was working closely with the Treasury.
“I think it is really important to recognise that we will not be responsible for the code of ethics as that will be the responsibility of Treasury,” Press said.
With respect to the exam, the commissioner assured that ASIC was working with the Australian Council for Educational Research (ACER) for a new contract.
“Once the contract is signed, which is likely to be in the next week or the week after, we will be putting it out to the industry firstly how many exams there will be,” she said.
“We are looking at probably four exam sittings in 2022 and for those people who qualify for the extension through 30 September to pass the exam [there] will be three opportunities to do so before September 2022.”
AUTHOR
Oksana Patron
Recommended for you
Insignia Financial has returned to profit in FY25, after a $185m loss in the previous year, while its advice division grew their revenue per adviser by 14 per cent.
With licensee switching on the rise, particularly for newer advisers, compliance expert Sean Graham has shared red flags to watch out for when making the jump between AFSLs.
Beyond their investment benefits, over a third of advisers say utilising managed accounts solutions has allowed them to take on more clients, according to Praemium.
Insignia Financial’s wrap platform has appointed Heidi Press, former HUB24 head of product management, to spearhead the design and delivery of the MLC Expand platform.
