FASEA releases final provider accreditation policy
The Financial Adviser Standards and Ethics Authority has finalised its policy around higher education program and provider accreditation.
In a statement, FASEA said the policy provides guidance to higher education providers (HEPs) and professional associations on the approval requirements for a range of education pathways in the FASEA Education Pathways Policy FPS001, including:
- Bachelor degrees;
- Graduate diplomas;
- Master's degrees;
- Bridging courses; and
- Credit for recognition of prior learning (RPL) in respect of education undertaken to obtain a relevant professional designation.
FASEA will now accept applications for accreditation from HEPs with priority of assessment given to applications for graduate diplomas and bridging courses.
Further, it said it will assess an initial tranche of graduate diplomas and/or bridging courses pursuant to the requirements in FPS002 Accreditation Policy for HEPs who submit an application by 12 April 2019, and will undertake an initial review of applications and advise if further information is required.
Compliant applications will be assessed within approximately eight weeks of receipt and notification of outcomes will be advised to all HEPs at the same time and entered on the FASEA website, FASEA said.
FASEA will also periodically register amended degrees, qualifications and courses legislative instruments updated to include the accreditation of additional approved degrees, courses and education approved for RPL as well as amendments to existing approved programs and courses.
“We look forward to assessing relevant degrees, diplomas and courses to be offered to financial advisers by higher education providers,” said FASEA chief executive Stephen Glenfield.
“This will assist financial advisers in satisfying their education requirements under the Corporations Act 2001.”
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