The financial advice sector has two weeks to provide its views on a move by the Financial Adviser Standards and Ethics Authority (FASEA) to remove the three-month registration requirement for the November exam.
The move was first announced by FASEA on 8 July and would allow any adviser needing to resit the last exam conducted by the authority to do so irrespective of when they had previously sat for the exam.
To allow that to happen, FASEA will need to amend the Corporations (Relevant Providers Exam Standard) Determination 2019, which governs the conduct of exams, and has released that amendment for consultation for a period of two weeks, ending on 28 July.
FASEA chief executive Stephen Glenfield said: “This amendment aims to provide existing advisers with an additional opportunity to meet the transition requirements of the Corporations Act. FASEA welcomes stakeholder feedback on this proposed amendment.”
The amended legislative instrument can be viewed via FASEA’s website and contains only a single change under section 4.2c, which notes a person is an eligible candidate for an exam if they have not sat an exam within three months before registering for the exam, except in the case of the exam to be held between 1 November 2021 and 31 December 2021.
FASEA stated feedback and submissions on the change to the legislative instrument must be received by 5pm on 28 July and will be published on its website, unless otherwise requested, at the conclusion of the consultation process.