Financial Adviser Standards and Ethics Authority

Policy topic: Banking and finance

In short

  • The Financial Adviser Standards and Ethics Authority (FASEA) was established in April 2017 through the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017
  • In June 2017, FASEA was declared as the standards body under the Corporations Act 2001
  • It ceased operation on 14 December 2021.

The Financial Adviser Standards and Ethics Authority (FASEA) was established as a Commonwealth company on 11 April 2017 through the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017. The FASEA set the education, training and ethical standards of licensed financial advisers in Australia.

In June 2017, FASEA was declared as the standards body under the Corporations Act 2001. Under the Act, FASEA is responsible for:

  • approving Bachelor (or higher) degrees, or equivalent qualifications and determining the bridging course requirements for existing advisers
  • approving foreign qualifications
  •  approving and administering an exam
  • determining the requirements for the work and training (professional year) requirement
  • setting requirements for continuous professional development
  • setting an appropriate common term for provisional relevant providers
  • making a Code of Ethics

For historical information, visit Trove to view the FASEA website

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