FASEA open to accepting foreign qualifications

FASEA open to accepting foreign qualifications

The Financial Adviser Standards and Ethics Authority has released its online form enabling advisers with qualifications obtained overseas to apply for approval of their foreign qualification.

FASEA’s online Foreign Qualifications Assessment Service form will need to filled out by advisers with foreign qualifications in order to meet the education and training standards of the Corporations Act, FASEA said in a statement.

A new entrant or existing adviser with foreign qualifications must provide to FASEA:

  • a certified copy of a Department of Education and Training assessment for each qualification; and
  • a certified copy of the academic transcript for each degree or diploma

FASEA said it will then assess the foreign qualification for equivalence to degrees or qualifications already approved by FASEA and may specify courses for the new entrant or existing adviser to complete in addition to their foreign qualification.

As it approves foreign qualifications, FASEA said they will be added to its Foreign Qualification Precedent Database.

“The opening of the Foreign Qualifications Assessment Service will enable persons holding international qualifications to obtain approval of their qualifications and to confirm any further education they must undertake to continue operating in the industry after 1 January 2024,” said FASEA chief executive Stephen Glenfield.

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Adrian Flores

Adrian Flores

Adrian Flores is a features editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].

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