FASEA exam extension bill passes
The Financial Adviser Standards and Ethics Authority (FASEA) exam extension legislation has passed the Senate.
The Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume has announced the passage on the basis of the Government keeping a promise to the financial planning industry.
The passage of the legislation, part of an omnibus bill, was owned to Government negotiations with Senate cross-benchers.
If the legislation had not passed, the only option open to the industry would have been class order relief delivered by the Australian Securities and Investments
Recommended for you
Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year.
Financial advice businesses are being urged to create an information memorandum for their practices to ensure they are “sale-ready” at all times amid the current opportunistic M&A climate.
The financial advice market remains very fragmented compared to other industries, according to Count chief executive Hugh Humphrey, and licensees need deep pockets if they want to scale up.
A global investment manager with more than $676 billion in AUM has announced a $345 million debt investment into Oaktree Capital-backed AZ NGA.
