Opportunity for FASEA exam retake in 2022

24 June 2021
| By Laura Dew |
expand image

The Government has granted a limited one-time extension to advisers who have failed the Financial Adviser Standards and Ethics Authority (FASEA) exam at least twice to sit it next year.

A statement from Minister for Superannuation, Financial Services and the Digital Economy, Jane Hume, said there would be limited exemptions available.

These would apply to those who had made previous exam attempts but failed at those.

“For those who have made two genuine attempts to pass the FASEA exam, and were unable, there will be a one-time, limited extension into next year. There will be at least one further opportunity to pass the exam offered in 2022 for those who qualify for the exemption. Costs, and timings for the 2022 period have yet to be confirmed,” she said.

“If advisers have not sat the exam twice prior to the end of this year, no extension will be granted. Please do not delay- these exemptions will be very limited.”

There were only three more exam sittings taking place in 2021, July, September and November.

Read more about:



Recommended for you



sub-bg sidebar subscription

Never miss the latest news and developments in wealth management industry


My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...

4 days ago
Jason Warlond

Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...

4 days 1 hour ago
Jasmin Jakupovic

How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...

5 days ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

9 months 1 week ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

8 months 4 weeks ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

9 months 1 week ago