Financial Planning
Time ticks by on FASEA approvals

The Financial Adviser Standards and Ethics Authority has been forced to admit it will miss its own deadline for the approval of several graduate diplomas and bridging courses submitted for accreditation.

According to FASEA, 14 graduate diplomas and 11 bridging courses have been submitted to the authority for accreditation by the cut-off date of April 12.

However, FASEA said it had so far made no approvals in relation to the applications it had received.

And according to its update, the approval process will take up to eight weeks, meaning any announcement on their approval is now due in mid-June.

FASEA had originally planned to communicate the outcomes for the assessment of graduate diploma and bridging course applications by "late May 2019," according to the frequently asked questions section of its website.

The update came after the Ethics Centre said earlier this week it would develop a "FASEA accredited," ethics course for financial advisers which would be launched later in the year. It clarified that the course was not complete but under development. It will be submitted to FASEA for "possible accreditation," according to standard procedures.

Read more: FASEAFinancial AdviserThe Ethics Centre
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