FASEA amends education legislative instrument

The amendments include the approval of a number of current degrees and bridging courses, approval of historic degrees and adjustments to some historical course and or degree details.

Feedback on the draft amendments close at 5pm on 30 July.

It comes after FASEA approved ASIC’s covid advice relief last week. The corporate regulator put together an example ROA to help financial advisers when providing advice that was confirmed to be “consistent with advisers’ obligations under the FASEA Code of Ethics”.

Meanwhile, AFA acting chief executive and general manager Phil Anderson said on Friday that FASEA’s code of ethics need to be reviewed before it winds down this year.

During a Senate economics hearing, Mr Anderson took said FASEA standards should recognise prior studies undertaken by advisers.

The education standard … does not adequately recognise experience for previous study and, in particular, CPD that’s been done by financial advisers,” Mr Anderson said.

“There’s a lot of longer-term financial advisers who are not getting any credit for what they’ve done in the past and required to do eight graduate diploma subjects.”

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.