Opportunity for FASEA exam retake in 2022
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.
AUTHOR
Laura Dew
Recommended for you
TAL has introduced four new courses to its Risk Academy focused on ethical dilemmas as part of Ethics Month to help advisers meet their CPD requirements.
Unadvised Australians believe they need $2 million to retire comfortably, according to Colonial First State, a wide variance compared to advised individuals which estimate $1.3 million.
Financial advisers can now access Vanguard’s diversified managed account strategies on HUB24 and Netwealth, marking a “significant expansion” through new distribution channels.
The heads of two financial advice licensees have joined the board of the Financial Services Council as it looks to deepen its engagement with the space and strengthen its representation.
