FASEA (Financial Adviser Standards and Ethics Authority Limited) was established on 11 April 2017 to set the education, training and ethical standards of financial advisers, licensed under Australian law. New requirements for Financial Planners are now in place, with the minimum requirement to be an approved degree.FASEA latest update on requirements for existing Financial Planners
Our Diploma of Financial Planning and Advanced Diploma of Financial Planning qualifications, meet the RG146 requirements in many areas of Specialist knowledge and these two combined qualifications allow students to gain credit into a degree with several universities and specifically the articulation arrangement IIT have with CSU (Charles Sturt University) into the Masters of Applied Finance (Financial Planning) See details in this course information link. Master of Applied Finance (Financial Planning) Articulation from IIT
On 13 June 2017, FASEA was declared as the standards body under the Corporations Act 2001. Under the Corporations Act 2001, FASEA is responsible for:
- approving degrees or higher or equivalent qualifications
- approving foreign qualifications
- approving and/or administering the exam
- determining the requirements for the professional year
- selecting an appropriate common term for provisional relevant providers
- setting supervision or other requirements for provisional relevant providers
- determining the continuous professional development (CPD) requirements in relation to licensees’ CPD years
- determining the requirements for financial advisers whose CPD year changes and whether to modify the operation of the Corporations Act for these individuals, for example, by requiring licensees to report non-compliance with the CPD requirement at a time other than at the end of their new CPD year
- determining the bridging course requirements for existing providers
- setting the Code of Ethics.
Please contact us should you require further information.