- Latest advocacy
- Knowledge Sharing sessions going ahead
- Compliance with FASEA’s Code of Ethics is required by law from 1 January 2020
- Latest media releases from FASEA
Advocacy in the CA ANZ Financial Advisory Services area included:
- Lodging a submission on APES 230
- Liaising with FASEA to enable compulsory exam to be online
- Attended ASIC's joint accounting bodies meeting with the CPAs
- CA ANZ hosted a COVID-19 meeting with other member associations to ascertain new areas requiring advocacy
- Attended a member association meeting to further our strategic advice project
- We have prepared short videos for the 'Future of Advice' project as well as our upcoming Sharing Knowledge sessions
- In discussions with FASEA to consider enabling the compulsory exam to be online.
Latest FASEA accouncements
- CA ANZ to assist post FASEA COVID-19 announcements - FASEA recently announced that ongoing face to face CPD and the compulsory exam in April have been cancelled.CA ANZ understands both areas of the new FASEA laws are causing member concern. We are working with Cram 4 Exam to provide their exam workshops online which double-up for CPD. We are also looking into options for CPD including additional FASEA 'professionalism and ethics' training which has been requested by many members. Media Release : Guidance on CPD compliance arising from COVID-19 business disruption (19 March 2020).
- Adviser Exam Sittings: FASEA to cancel face to face April Exam and substitute with remote online options (18 March 2020)
- April 2020 Exam – ACER Advice on Coronavirus COVID-19 (13 March 2020)
The new requirements commenced on 1 January 2019.
- New Entrants are required to hold an Approved Degree before they commence their Work and Training (Professional Year) requirement. They must be mid way through their Professional Year before they are eligible to sit the Financial Adviser exam and commence using the term Provisional Financial Adviser or Provisional Financial Planner.
- The annual requirement for 40 hours Continuous Professional Development commenced on 1 January 2019. Provisional Financial Advisers will be required to undertake CPD after completion of their Professional Year.
- Existing Advisers have until 1 January 2021, to pass the Financial Adviser Exam and until 1 January 2024, to reach an education standard equivalent to an Approved Degree.
- The Code of Ethics will commence on 1 January 2020, with all Financial Advisers required to adhere to the Code from that day onwards.
Sharing Knowledge sessions to continue online
The “A strategic advice registration – why it’s an ideal model for the future” presentations will now be delivered in the form of interactive online sessions. In this presentation, we will look at:
- Remaining FASEA requirements post COVID-19 ramifications
- Developments with the limited licensing regime and a strategic advice model
- Major issues emanating from the draft Royal Commission legislation.
Dates across the regions are as follows:
- Melbourne: 15 April
- Hobart: 16 April
- Adelaide: 20 April
- Canberra: 28 April
- Sydney: 29 April
Members are invited to provide feedback on professionalising the financial advice industry and improving consumer outcomes.Contact the Financial Services team
Join the Financial Advisory group on my CA
Join the discussion and stay up to date with what you need to know and what action you need to take on the FASEA developments.Join the group