Wednesday 21 November 2018

On Friday 16 November 2018, the Financial Adviser Standards and Ethics Authority (FASEA) began to release the much-anticipated final draft standards to give effect to the new Adviser Professional Standards Framework.


The draft legislative instruments that have been released to date are:

Draft legislative instrument Consultation window
Professional Year: Work and Training Requirement 16 November 2018 to 30 November 2018
Provisional Relevant Provider Term 16 November 2018 to 30 November 2018
Education Pathways: Relevant Providers Degrees, Qualifications and Courses Standard 20 November 2018 to 14 December 2018
Code of Ethics 21 November 2018 to 14 December 2018

FASEA has also released a Standards Blueprint which summarises the revised standards framework following stakeholder consultation on initial draft guidance released earlier this year.

The Blueprint includes a timetable for release of the draft legislative instruments, including those which are yet to be released:

Draft legislative instrument Release timeframe
Continuing Professional Development Week commencing 19 November 2018
Foreign qualifications Week commencing 26 November 2018
Exam Week commencing 3 December 2018

We’ll provide further information on the content of the draft legislative instruments in an upcoming article shortly.

Further information

FASEA, Professional Year: Work and Training Requirement, 16 November 2018

FASEA, Provisional Relevant Provider Term, 16 November 2018

FASEA, Education Pathways: Relevant Providers Degrees, Qualifications and Courses Standard, 20 November 2018

FASEA, Code of Ethics, 21 November 2018

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