Following requests from financial advisers, FASEA has provided relief from compliance with its continuous professional development (CPD) requirements.
FASEA will now grant advisers an extra three months to meet its 40 hour CPD requirement.
"FASEA recognises the challenges presented by the current extraordinary circumstances. Importantly, FASEA understands that completion of planned CPD offerings may be difficult," the authority said.
With events on hold due to COVID-19 and advisers facing extra pressure amid market volatility, completing CPD by the end of the financial year has been a big ask for many.
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Advisers will be required to complete 40 hours of CPD in 12 months in future CPD years and may not double count hours across the years.
"FASEA will consult on a legislative instrument amendment to give effect to this extension," FASEA said
"In recognition of the difficulty in attending face to face training due to Covid-19 restrictions, FASEA encourages advisers to utilise effective solutions being offered by licensee CPD programs that contain online learning as part of a led or conducted CPD program.
"Video conferencing and/or webinar technology options are equally considered appropriate alternatives to face to face offerings."
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