In 2017, the Government introduced professional standard reforms for ‘relevant providers (financial advisers). This included setting up the Financial Adviser Standards and Ethics Authority (FASEA) to set education and training requirements for financial advisers.
On 1 January 2022, the Minister for Superannuation, Financial Services and the Digital Economy will assume responsibility for setting the education and training standards. The Government has released a policy paper seeking feedback on the education standards and whether they remain fit for purpose including by ensuring that they adequately recognise on-the-job experience of advisers. Unless the standards made by FASEA are amended or replaced, the existing standards continue to set the requirements for financial advisers.
Interested parties are invited to comment on the proposals by 1 February 2022. Stakeholder feedback will inform the Government’s policy and whether any changes are required to the instrument.
You can submit responses to this consultation up until 01 February 2022. Interested parties are invited to comment on this consultation.
While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.
All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.
Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.
View our submission guidelines for further information.
How To Respond
Address written submissions to:
Advice and Investment Branch
Parkes ACT 2600