Advisers have been given a one-off extension period in which to fulfil their CPD requirements by FASEA in recognition of the disruption caused by COVID-19.

FASEA has announced the remaining sitting dates of the adviser exam for 2020 will be held in August, October and November.

ASIC can grant an exemption to professional standards legislation that would extend the adviser exam timetable if legislation aimed at doing so is cannot be passed before the end of the year.

The latest FASEA exam results show a further 1800 advisers have passed, increasing the total number to more 25 per cent of all advisers.

New coursework has been approved by the Financial Adviser and Ethics Authority as evidence some of the new professional education requirements have been satisfied.

FASEA has given AFA members one credit for education undertaken to attain the association’s FChFP designation.

Labor has supported an extension to the deadline for advisers to comply with new education standards, but has criticised how FASEA has handled the changes.