Earlier this month, the standards authority had made the decision to provide all financial advisers who have yet to pass the exam the option to sit the November exam irrespective of the timing of their last sitting.

The draft amendment proposes relief from the three-month registration requirement for the November 2021 exam sitting. 

The relief will allow all candidates who have been unsuccessful at any prior sitting to sit the November exam. The exam will be offered online via Remote Proctoring and at exam venues (subject to COVID protocols).

FASEA set the exam standard in the Corporations (Relevant Providers Exam Standard) Determination 2019.

This proposed legislative instrument amends the Corporations (Relevant Providers Exam Standard) Determination 2019 by excluding the three-month registration requirement for the November sitting 2021 only.

“This amendment aims to provide existing advisers with an additional opportunity to meet the transition requirements of the Corporations Act. FASEA welcomes stakeholder feedback on this proposed amendment,” FASEA chief executive Stephen Glenfield said.

The legislative instrument amendment can be viewed here.

FASEA welcomes feedback on any aspect of the proposed exam amendment. The consultation period for this proposed amendment will close on 5pm, 28 July 2021. 

All feedback and submissions on the legislative instrument can be submitted through FASEA’s dedicated consultations email.