Following amendment to the Corporations Act 2001 arising from the passing of the Better Advice Act, from 1 January 2022, the Minister responsible for the Corporations Act may, by legislative instrument, approve bachelor or higher degrees or equivalent qualifications, required for a person to be a financial adviser.
Higher education providers may contact the Financial Adviser Standards unit for general enquiries, and to indicate their interest in applying to have a course accredited by the Minister by submitting details through the contact form.
Degrees approved by the Financial Adviser Standards and Ethics Authority (FASEA) prior to 31 December 2021 remain Approved Degrees for the purposes of the Corporations Act 2001. These degrees are listed in the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021.
Higher education providers can continue to refer to a course as an "FASEA approved degree" or "FASEA approved qualification" if the degree or qualification was approved by FASEA prior to 31 December 2021 and is listed in the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021.
Higher education providers must not advertise, describe or imply a course, degree, or qualification as approved, accredited or leading to financial advising professional outcomes, unless it has been approved by the Minister or FASEA and is listed in the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021.