In a statement released on Wednesday, Prime Minister Scott Morrison said Parliament would meet “only to consider the legislation that will enact the stimulus package and any other immediate business”.
He added that only half the usual number of parliamentarians would attend the March sitting, with pair voting arrangements in place across the major parties and crossbench and independent MPs and senators free to decide whether to attend or not.
The bill to extend FASEA deadlines is currently awaiting passage through the Senate, which is likely to be particularly affected by the new arrangements, with Mr Morrison saying voting processes in the upper house “will be finalised in consultation with the opposition and the Senate crossbench in the coming days”.
Speaking to ifa, FPA chief executive Dante De Gori said the government was understandably focused on keeping the economy afloat during the current crisis, and that advisers could be assured of the eventual passage of the FASEA extension.
“It is important to remember that the extensions to the deadlines for the FASEA exam and education standard only need to pass the Senate to become law,” he said.
“Stephen Jones MP confirmed Labor’s support for the legislation. It is therefore not a matter of if, just a matter of when the extension will be legislated.”
Mr De Gori said the COVID-19 pandemic and its impact on Australians was “a critical situation that is developing day by day, hour by hour”.
“Keeping the economy afloat and Australians safe is the government’s main priority right now,” he said.
Mr De Gori added that advisers would likely have a critical role to play with their clients as the economic and financial impact of the crisis continued to play out.
“The FPA is helping its members support their clients and ensure they receive the advice they require with their investments, superannuation and personal finances during this critical time,” he said.
“In recent days, the FPA has also been liaising with the government to consider the readiness of the financial planning profession to plan and implement strategies to manage the financial impact of COVID-19 on Australians.”
Acer the exam provider has offered the April exam via remote access. This could very well be an option for the future.
“Don’t be concerned” says the head of a peak organisation that will continue to get paid a ridiculous income regardless of how much or how little they actually do for advisers.
Fasea exams shouldve been cancelled last june!
I wouldn’t be so confident. Frydenberg’s agenda is to wipe out as many financial advisers as quickly as possible. He sees adviser persecution as an easy way to win over the media. If COVID-19 hastens that process, so much the better from his perspective. Hume has been completely sidelined in the financial advice reform process. Frydenberg is calling the shots.
Crook alright
hey yea
We’ve got no hope given the FPA is involved now.
Why can’t the fasea exam be done remotely………?
exactly… that would be too easy
They are going to have to push the dates even more then have currently been approved if we can’t attempt the exam for another six months
I have no doubt this will still happen..the Govt has more on its plate for now. Who knows… they may even give us an extra year on top of that proposed to give us time to do what we need to do and that is service clients and their needs and assure and counsel them during difficult times… Our experience and time in the industry and the trust we have built over the years with our clients is so important in times like these but that part of our job and expertise did seem to be overlooked by the likes of ASIC FASEA etc when they proposed all the changes
you are dreamimg