Shadow minister for financial services Stephen Jones has called on the senate to prioritise passing a bill to extend FASEA education and exam deadlines when it returns on 10 June 2020.
“After more than two years of FASEA disasters, including the appointment of three different CEOs in 18 months, the government finally acknowledged that advisers would need more time to meet educational standards in August 2019,” Mr Jones said in a statement. “It is disappointing that the government have taken almost nine months to get the necessary legislation to the Senate for a vote.”
Labor has confirmed its commitment to support the bill, regardless of the success of its amendment. The government did not settle the FASEA timetable extension when it returned last week and did not list the legislation for debate until Thursday afternoon – something Mr Jones said was a choice to “ignore the pleas of financial advisers”.
“Passing this legislation remains a priority for Labor, even if it’s far from a priority for the Liberals,” he said. “Labor has heard from key industry stakeholders, including the Financial Services Union and the Financial Planning Association, about what this legislation means to ordinary financial advisers.
“Australians deserve to be able to access affordable financial advice from a strong and stable advice industry. They need this bill to pass. The government’s decision to delay a vote is inexplicable.”
The FSU has previously called for unity from both the Liberal and Labor parties in order to get the bill passed.
“We have made it crystal clear that your part of the industry cannot afford further uncertainty, and that this uncertainty will cost jobs if not remedied,” said FSU assistant national secretary Nathan Rees.
“Australians are looking for political parties to work together to solve issues, not engage in finger pointing. We will continue to press the government and opposition for a resolution on this matter.”
i thought i was reading a joke when i saw the headline…Lab….why did you hold it up then….im lost
It is good to hear the ALP call FASEA out for the disaster it is. Let’s hope they move on from this very minor exam date issue and start debating the important stuff, like the Code of Ethics debacle, the ridiculous draft legislation re 12 month Opt-In and ASICs never-ending red-tape barrage.
@ Ben. On that note….”well if you’d been a professional you’d have done the exam by now” (excluding the advisers whose dog died or house burnt down or whatever excuse of course). But hey, the words Professional and Financial Planner don’t go together these days. When you can’t negotiate an extension in the middle of a Pandemic and you don’t even do any inner reflection, or your CEO of your leading “professional” body get’s shown to be wanting at a Royal Commission and still has his job I would not expect anything less than more Government intervention and the Government clearly not giving a stuff about this issue.
“Labor has confirmed its commitment to support the bill, [b]regardless of the success of its amendment[/b][b][/b]”
If that is true and main reason for the hold up, then prove it and remove your proposed amendment!
So sick of the Labor lies and double dealing bs. They have never been a friend to planners and never will be while ISA is their cashcow.
The FSU is now a key industry stakeholder, i must say well played to the aiofp , this was a masterstroke to get the union on board.
Cue the trolls!
Yawn. If you are a planner and support Labor then I have concerns about your long term future and prosperity, unless of course you are one of ISA’s pretend employee planners
I think you have misinterpreted the comment. The reference to trolls is relating to people that get on these sort of forums of late degrading other advisers because they have no done the exam as yet etc.
Strong, stable industry – people won’t get this from Labour and the ISF.
The winners will be the labour party lawyers – Maurice Blackburn.
Well, A little bit of support. I think I need a Bex & a lie down whilst I ponder a little longer…