What happened to Fasea?
FASEA WILL BE WOUND UP
The Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Bill 2021 also wind up of FASEA on 1 January 2022, with its functions transferred to the Minister responsible for administering the Corporations Act and to ASIC. ASIC will administer the exam.
What is the pass rate for Fasea exam?
FASEA exam pass rate declines to just above 50% Just 52 per cent of all candidates who sat the FASEA exam passed in November. FASEA on Friday (10 December) released exam results from the 15th Financial Advisers Exam held in November 2021, revealing that only 52 per cent of all candidates had passed the exam.
What happens if you fail Fasea exam?
FASEA said candidates who were unsuccessful in this exam will receive additional individual feedback to highlight the curriculum areas where they have underperformed. Advisers receive either a pass or fail with no numerical marks.
Who is replacing Fasea?
On January 1 Treasury took over FASEA's standard-setting obligations, while ASIC's Financial Services and Credit Panel took became the industry's new Single Disciplinary Body.