How many advisers passed the May exam?
Just over 40% of candidates who sat the May financial adviser exam have passed, according to the Australian Securities and Investments Commission (ASIC).
Some 496 advisers sat the exam in May and 212 of those passed, representing 42.7%.
This was an improvement on the previous sitting in February when only 32% passed, the lowest of all the sittings.
Almost three-quarters (72.2%) of candidates in May were resitting the exam for at least the second time.
Candidates had until Wednesday 22 June to ask for a re-mark of their paper.
The next exam would be held on 28 July-1 August, 2022 and enrolments would be open from 20 June, 2022 til 12 July, 2022. This would be the final opportunity for advisers who were operating under the nine-month extension to pass the exam.
AUTHOR
Laura Dew
Recommended for you
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
In the run-up to heavy losses expected at the end of the financial year, June has already reported consecutive weeks of adviser losses.
ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam.
ASIC has sent warning notices to social media finfluencers who it suspects are providing unlicensed financial advice to Australians as part of a global crackdown by international regulators.
