FASEA consults on draft amendments to prior learning
FASEA has released draft amendments which will enable existing advisers who have completed both a relevant degree and relevant post-graduate degree to receive 2 credits of approved recognition of prior learning.
In a public announcement this week, the Financial Adviser Standards and Ethics Authority (FASEA) released for consultation draft amendments to Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2020.
Under the proposed amendments, existing advisers who have completed both a relevant degree and a relevant post-graduate degree will only be required to complete two bridging courses — including Ethics for Professional Advisers — to meet their education requirements.
The draft amendment will also see the addition of degrees and bridging courses and the recognition of prior learning of advisers approved by FASEA over the course of 2020 to the education legislative instrument.
FASEA noted that during the course of 2020, it announced the approval of a number of current degrees and bridging courses and the recognition of prior learning of advisers through the approval of historic degrees and awarding of credit for coursework to attain a professional designation.
It previously stated that these would be added to an education legislative instrument.
The draft amendment also includes adjustments to some historical course/degree details provided to FASEA by higher education providers post-registration of the 2020 determination.
FASEA is inviting feedback on the amendments up until 16 September.
Miranda Brownlee
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.
