FASEA extension still subject to legislation
Advisers need to understand that legislation has yet to pass the Parliament extending the Financial Adviser Standards and Ethics Authority (FASEA) exam deadline, according to FASEA chief executive, Stephen Glenfield.
Addressing the Money Management Future of Wealth Management Conference in Sydney today, Glenfield said that while FASEA was aware of the Government’s announcement regarding extending the time-table, it was still obliged to operate under the original timetable.
“FASEA has no view on the extension, we are working to the currently legislated timetable,” he said.
Glenfield said that planners needed to understand that legislative amendments needed to pass both houses of the Parliament before the extension became law and should predicate their decisions on that fact.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
