FASEA Exam and Education Extensions Update

AFA News 23 April 2020. A number of members have asked for a status update on the extension to the FASEA exam deadline. The legislation to achieve the extension has passed in the House of Representatives, however it is yet to be debated in the Senate. The Government have assured us that the legislation will pass this year and most recently, the Assistant Minister for Superannuation, Financial Services and Financial Services Technology, Senator Jane Hume made reference to the extension in her media release last week in response to the ASIC announcement on measures to make it easier to provide financial advice during the coronavirus crisis.

The Opposition have also been quoted as supporting the extensions and this was confirmed directly to us from the office of the Shadow Minister, Stephen Jones. As a fallback, we have suggested to the Government that they consider other options, such as a regulation, to provide certainty. We, acknowledge the clear intent on both sides of Politics in recognising the challenges of the original timeframe and the myriad of challenges in our industry at present. Whilst recognising the need for absolute certainty, we are, in these uncertain times, continuing to assume that the extensions will go ahead as planned.