The results for the first ASIC administered financial adviser exam have been released, with more participants failing than passing.

ASIC has announced the final dates in which financial advisers can undergo the exam after FASEA transferred its powers to the regulator last year.

The FPA has rejected the proposed establishment of an experience pathway, but has called for the limited use of such a model if it is adopted.

Longevity in the industry should be considered when deciding how much study existing advisers must complete to remain in the industry.

The government has announced plans to allow advisers with a decade’s experience and a clean compliance record to practice without a degree.