Key Documents
Draft legislation to provide greater flexibility for financial advisers to demonstrate that they have met the conditions of an approved degree has been released for consultation.
The draft legislation amends the Corporations (Relevant Providers Degrees, Education and Training Standards) Determination 2021 to enable financial advisers to demonstrate that they satisfy the conditions of an approved degree/qualification via:
- an academic transcript(s) issued by the provider of the approved degree and/or
- a statement(s) issued by the provider of the approved degree confirming that the person has met the condition(s) for the approved degree.
Additionally the draft legislation amends the Corporations (Relevant Providers Degrees, Education and Training Standards) Determination 2021 to address transitional limitations in the provision of tax (financial) advice services.
The draft legislation changes the transitional arrangements for tax (financial) advisers so that an adviser will be taken to meet the education requirements to be a qualified tax relevant provider if they were registered with the Tax Practitioners Board or had a registration application pending before 1 January 2022 regardless of whether they were authorised as an adviser on that day.
The government welcomes views from all interested parties to provide feedback on the effectiveness of the draft legislation.