{"id":"F2021L01848","name":"Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021","slug":"corporations-relevant-providers-degrees-qualifications-and-courses-standard-determination-2021","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":102225,"registerId":"commonwealth-F2021L01848-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"## Part 1—Preliminary\n\n#### 1 Name\n\n This instrument is the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021.\n\n#### 3 Authority\n\n This instrument is made under the Corporations Act 2001.\n\n#### 5 Definitions\n\n> Note Code of Ethics and relevant provider are defined in section 910A of the Act. Existing provider is defined in section 1546A of the Act.\n\n Definitions\n (1) In this determination:\n\n> Act means the Corporations Act 2001.\n\n> advanced diploma of financial planning means:\n\n (a) a diploma awarded by an NVR registered training organisation within the meaning of the National Vocational Education and Training Regulator Act 2011, being a diploma that:\n (i) satisfies the AQF criteria for AQF level 6 or higher; and\n (ii) includes 8 units of study that are specific to financial planning or financial advice; or\n (b) the Advanced Diploma of Financial Services (Financial Planning); or\n (c) the 8 unit Diploma of Financial Planning offered by Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited); or\n (d) the 8 unit Diploma of Financial Advising offered by the Financial Services Institute of Australasia (formerly Securities Institute Australia); or\n (e) the 8 unit Diploma of Financial Markets offered by the Financial Services Institute of Australasia (formerly Securities Institute Australia); or\n (f) the 8 unit Certificate in Financial Markets offered by the Financial Services Institute of Australasia (formerly Securities Institute Australia) where the units required to be awarded the certificate were completed between 1 January 1982 and 31 December 1990.\n\n> approved bridging unit means a unit of study identified in Schedule 2 as:\n\n (a) a Financial Advice Regulatory & Legal Obligations bridging unit; or\n (b) an Ethics for Professional Advisers bridging unit; or\n (c) a Behavioural Finance: Client and Consumer Behaviour, Engagement and Decision-Making bridging unit.\n\n> approved unit of study means a unit of study listed in column 4 of the table in Schedule 1 in respect of a particular degree or qualification.\n\n> AQF means Australian Qualifications Framework, 2nd edition (January 2013) published by the Australian Qualifications Framework Council.\n\n> Note On the day the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021 was registered, this publication was available at https://www.aqf.edu.au/.\n\n> AQF criteria, for a specified AQF level, means the criteria for the AQF level specified in AQF.\n\n> AQF level means a level identified as such in AQF.\n\n> completed approved study to attain a professional designation—see subsections (2) and (3).\n\n> designated area of study means each of the following:\n\n (a) financial planning (including financial advice in the areas of superannuation, retirement, insurance or estate planning);\n (b) investments (for example, shares, derivatives, foreign exchange, options);\n (c) finance;\n (d) finance law;\n (e) business law or commercial law (if the relevant course is approved by the Tax Practitioners Board);\n (f) taxation and tax law (if the relevant course is approved by the Tax Practitioners Board);\n (g) accounting;\n (h) estate law;\n (i) banking;\n (j) economics.\n\n> higher education provider has the meaning given in the Tertiary Education Quality and Standards Agency Act 2011.\n\n> non‑relevant degree means a qualification that:\n\n (a) is awarded by a higher education provider; and\n (b) satisfies the AQF criteria for AQF level 7 or higher; and\n (c) is not a graduate certificate; and\n (d) is not a relevant degree.\n\n> OUA means Open Universities Australia.\n\n> post-graduate relevant degree means a qualification that:\n\n (a) is awarded by a higher education provider; and\n (b) is a graduate diploma or Masters degree; and\n (c) satisfies the AQF criteria for AQF level 8 or higher; and\n (d) includes at least 6 units of study in designated areas of study.\n\n> relevant degree means a qualification that:\n\n (a) is awarded by a higher education provider; and\n (b) satisfies the AQF criteria for AQF level 7 or higher; and\n (c) includes at least 8 units of study in designated areas of study.\n Completing approved study to attain a professional designation (1 credit)\n (2) For this Part, an existing provider has completed approved study to attain a professional designation, recognised as equivalent to AQF level 7 or higher, which is worth 1 credit, if he or she has:\n (a) completed, during or after 1972, the Chartered Accountant Program offered by the Chartered Accountants Australia and New Zealand (CA); or\n (b) completed, during or after 1989, the CPA Program offered by CPA Australia Ltd (CPA); or\n (c) completed, during or after 2005, SMSF Specialist Advisor Program offered by the SMSF Association Ltd (SMSF); or\n (d) completed the Chartered Financial Analyst Program offered by the CFA Institute (CFA); or\n (e) completed, during or after 2001, the Certified Investment Management Analyst Program offered by Portfolio Constructions Forum Pty Ltd (CIMA);\n (f) completed the SAFAA Professional Diploma in Stockbroking offered by the Stockbrokers and Financial Advisers Association (SAFAA); or\n (g) commenced, during or after 2009 and before December 2013, the Fellow Chartered Financial Practitioner (offered by Mentor Education) (FChFP‑ME) offered by Financial Advice Association of Australia Limited (formerly Association of Financial Advisers Ltd); or\n (h) commenced, during or after 2009 and before December 2013, the Chartered Life Practitioner (offered by Mentor Education) (ChLP-ME) offered by the Financial Advice Association of Australia Limited (formerly Association of Financial Advisers Ltd); or\n (i) completed, during or after 2009 and before December 2018 the Life Risk Specialist (LRS), offered by the Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited); or\n (j) completed, during or after 2010 and before December 2013 the Accredited Estate Planning strategists (AEPS) offered by the Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited); or\n (k) completed, during or after 1985 to December 1988, the Certified Practicing Accountants Associate Designation Program, offered by the CPA Australia Ltd (CPA-AD).\n Completing approved study to attain a professional designation (2 credits)\n (3) For this Part, an existing provider has completed approved study to attain a professional designation, recognised as equivalent to AQF level 7 or higher, which is worth 2 credits, if he or she has:\n (a) completed all the following units of study as part of the 5 unit CFP® Certification Program offered by Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited):\n (i) FAAA Proficiency Unit 1: Professionalism and Ethics (formerly CFP1(A)—FPA Professionalism);\n (ii) FAAA Proficiency Unit 2: Strategy Development and Risk Management (formerly CFP2(A)—Applied Strategies 1);\n (iii) FAAA Proficiency Unit 3: Estate Planning and Retirement (formerly CFP3(A)—Applied Strategies 2);\n (iv) FAAA Proficiency Unit 4: Investment Strategies (formerly CFP4(A)—Investment Strategies);\n (v) CFPC—Certification; or\n (b) completed all the following units of study as part of the CFP® Certification 1-4 Program offered by Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited):\n (i) CFP 1—Professionalism, Ethics & Compliance;\n (ii) CFP 2—Comprehensive Financial Planning 1;\n (iii) CFP 3—Comprehensive Financial Planning 2;\n (iv) CFP 4—Practice Management; or\n (c) completed, after 2013, all the following units of study as part of the Fellow Chartered Financial Practitioner course offered by Financial Advice Association of Australia Limited (formerly Association of Financial Advisers Ltd):\n (i) AFA 1—Business Strategy for Financial Advisers;\n (ii) AFA 2—Client Experience Strategy;\n (iii) AFA 3—Advanced Advice Solutions;\n (iv) AFA 4—Professional Conduct & Governance for Financial Advisers; or\n (d) completed, after 2013, all the following units of study as part of the Chartered Life Practitioner course offered by Financial Advice Association of Australia Limited (formerly Association of Financial Advisers Ltd):\n (i) AFA 1—Business Strategy for Financial Advisers;\n (ii) AFA 2—Client Experience Strategy;\n (iii) AFA 3—Advanced Risk Solutions;\n (iv) AFA 4—Professional Conduct & Governance for Financial Advisers; or\n (e) completed, during or after 1989, the CPA Program offered by CPA Australia Ltd, including completing at least 1 of the following electives:\n (i) Personal Financial Planning and Superannuation;\n (ii) Financial Planning Fundamentals;\n (iii) Superannuation and Retirement Planning;\n (iv) Investment Strategies;\n (v) Risk Advice and Insurance;\n (vi) Financial Risk Management.","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Name","content":"#### 1 Name\n\n This instrument is the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Authority","content":"#### 3 Authority\n\n This instrument is made under the Corporations Act 2001.","sortOrder":2},{"sectionNumber":"5","sectionType":"section","heading":"Definitions","content":"#### 5 Definitions\n\n> Note Code of Ethics and relevant provider are defined in section 910A of the Act. Existing provider is defined in section 1546A of the Act.\n\n Definitions\n (1) In this determination:\n\n> Act means the Corporations Act 2001.\n\n> advanced diploma of financial planning means:\n\n (a) a diploma awarded by an NVR registered training organisation within the meaning of the National Vocational Education and Training Regulator Act 2011, being a diploma that:\n (i) satisfies the AQF criteria for AQF level 6 or higher; and\n (ii) includes 8 units of study that are specific to financial planning or financial advice; or\n (b) the Advanced Diploma of Financial Services (Financial Planning); or\n (c) the 8 unit Diploma of Financial Planning offered by Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited); or\n (d) the 8 unit Diploma of Financial Advising offered by the Financial Services Institute of Australasia (formerly Securities Institute Australia); or\n (e) the 8 unit Diploma of Financial Markets offered by the Financial Services Institute of Australasia (formerly Securities Institute Australia); or\n (f) the 8 unit Certificate in Financial Markets offered by the Financial Services Institute of Australasia (formerly Securities Institute Australia) where the units required to be awarded the certificate were completed between 1 January 1982 and 31 December 1990.\n\n> approved bridging unit means a unit of study identified in Schedule 2 as:\n\n (a) a Financial Advice Regulatory & Legal Obligations bridging unit; or\n (b) an Ethics for Professional Advisers bridging unit; or\n (c) a Behavioural Finance: Client and Consumer Behaviour, Engagement and Decision-Making bridging unit.\n\n> approved unit of study means a unit of study listed in column 4 of the table in Schedule 1 in respect of a particular degree or qualification.\n\n> AQF means Australian Qualifications Framework, 2nd edition (January 2013) published by the Australian Qualifications Framework Council.\n\n> Note On the day the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021 was registered, this publication was available at https://www.aqf.edu.au/.\n\n> AQF criteria, for a specified AQF level, means the criteria for the AQF level specified in AQF.\n\n> AQF level means a level identified as such in AQF.\n\n> completed approved study to attain a professional designation—see subsections (2) and (3).\n\n> designated area of study means each of the following:\n\n (a) financial planning (including financial advice in the areas of superannuation, retirement, insurance or estate planning);\n (b) investments (for example, shares, derivatives, foreign exchange, options);\n (c) finance;\n (d) finance law;\n (e) business law or commercial law (if the relevant course is approved by the Tax Practitioners Board);\n (f) taxation and tax law (if the relevant course is approved by the Tax Practitioners Board);\n (g) accounting;\n (h) estate law;\n (i) banking;\n (j) economics.\n\n> higher education provider has the meaning given in the Tertiary Education Quality and Standards Agency Act 2011.\n\n> non‑relevant degree means a qualification that:\n\n (a) is awarded by a higher education provider; and\n (b) satisfies the AQF criteria for AQF level 7 or higher; and\n (c) is not a graduate certificate; and\n (d) is not a relevant degree.\n\n> OUA means Open Universities Australia.\n\n> post-graduate relevant degree means a qualification that:\n\n (a) is awarded by a higher education provider; and\n (b) is a graduate diploma or Masters degree; and\n (c) satisfies the AQF criteria for AQF level 8 or higher; and\n (d) includes at least 6 units of study in designated areas of study.\n\n> relevant degree means a qualification that:\n\n (a) is awarded by a higher education provider; and\n (b) satisfies the AQF criteria for AQF level 7 or higher; and\n (c) includes at least 8 units of study in designated areas of study.\n Completing approved study to attain a professional designation (1 credit)\n (2) For this Part, an existing provider has completed approved study to attain a professional designation, recognised as equivalent to AQF level 7 or higher, which is worth 1 credit, if he or she has:\n (a) completed, during or after 1972, the Chartered Accountant Program offered by the Chartered Accountants Australia and New Zealand (CA); or\n (b) completed, during or after 1989, the CPA Program offered by CPA Australia Ltd (CPA); or\n (c) completed, during or after 2005, SMSF Specialist Advisor Program offered by the SMSF Association Ltd (SMSF); or\n (d) completed the Chartered Financial Analyst Program offered by the CFA Institute (CFA); or\n (e) completed, during or after 2001, the Certified Investment Management Analyst Program offered by Portfolio Constructions Forum Pty Ltd (CIMA);\n (f) completed the SAFAA Professional Diploma in Stockbroking offered by the Stockbrokers and Financial Advisers Association (SAFAA); or\n (g) commenced, during or after 2009 and before December 2013, the Fellow Chartered Financial Practitioner (offered by Mentor Education) (FChFP‑ME) offered by Financial Advice Association of Australia Limited (formerly Association of Financial Advisers Ltd); or\n (h) commenced, during or after 2009 and before December 2013, the Chartered Life Practitioner (offered by Mentor Education) (ChLP-ME) offered by the Financial Advice Association of Australia Limited (formerly Association of Financial Advisers Ltd); or\n (i) completed, during or after 2009 and before December 2018 the Life Risk Specialist (LRS), offered by the Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited); or\n (j) completed, during or after 2010 and before December 2013 the Accredited Estate Planning strategists (AEPS) offered by the Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited); or\n (k) completed, during or after 1985 to December 1988, the Certified Practicing Accountants Associate Designation Program, offered by the CPA Australia Ltd (CPA-AD).\n Completing approved study to attain a professional designation (2 credits)\n (3) For this Part, an existing provider has completed approved study to attain a professional designation, recognised as equivalent to AQF level 7 or higher, which is worth 2 credits, if he or she has:\n (a) completed all the following units of study as part of the 5 unit CFP® Certification Program offered by Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited):\n (i) FAAA Proficiency Unit 1: Professionalism and Ethics (formerly CFP1(A)—FPA Professionalism);\n (ii) FAAA Proficiency Unit 2: Strategy Development and Risk Management (formerly CFP2(A)—Applied Strategies 1);\n (iii) FAAA Proficiency Unit 3: Estate Planning and Retirement (formerly CFP3(A)—Applied Strategies 2);\n (iv) FAAA Proficiency Unit 4: Investment Strategies (formerly CFP4(A)—Investment Strategies);\n (v) CFPC—Certification; or\n (b) completed all the following units of study as part of the CFP® Certification 1-4 Program offered by Financial Advice Association of Australia Limited (formerly Financial Planning Association of Australia Limited):\n (i) CFP 1—Professionalism, Ethics & Compliance;\n (ii) CFP 2—Comprehensive Financial Planning 1;\n (iii) CFP 3—Comprehensive Financial Planning 2;\n (iv) CFP 4—Practice Management; or\n (c) completed, after 2013, all the following units of study as part of the Fellow Chartered Financial Practitioner course offered by Financial Advice Association of Australia Limited (formerly Association of Financial Advisers Ltd):\n (i) AFA 1—Business Strategy for Financial Advisers;\n (ii) AFA 2—Client Experience Strategy;\n (iii) AFA 3—Advanced Advice Solutions;\n (iv) AFA 4—Professional Conduct & Governance for Financial Advisers; or\n (d) completed, after 2013, all the following units of study as part of the Chartered Life Practitioner course offered by Financial Advice Association of Australia Limited (formerly Association of Financial Advisers Ltd):\n (i) AFA 1—Business Strategy for Financial Advisers;\n (ii) AFA 2—Client Experience Strategy;\n (iii) AFA 3—Advanced Risk Solutions;\n (iv) AFA 4—Professional Conduct & Governance for Financial Advisers; or\n (e) completed, during or after 1989, the CPA Program offered by CPA Australia Ltd, including completing at least 1 of the following electives:\n (i) Personal Financial Planning and Superannuation;\n (ii) Financial Planning Fundamentals;\n (iii) Superannuation and Retirement Planning;\n (iv) Investment Strategies;\n (v) Risk Advice and Insurance;\n (vi) Financial Risk Management.","sortOrder":3},{"sectionNumber":"Part 2","sectionType":"part","heading":"Approvals of degrees and qualifications","content":"## Part 2—Approvals of degrees and qualifications","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Approvals of degrees and qualifications","content":"#### 6 Approvals of degrees and qualifications\n\n (1) Under subsection 921B(6) of the Act, each of the degrees and qualifications specified in an item in Schedule 1 is approved for the purposes of subparagraph 921B(2)(a)(i) of the Act.\n (2) Under subsection 921B(6) of the Act, each of the following conditions, for which a person must satisfy in relation to completing an approved degree or qualification, is approved for the purposes of subparagraph 921B(2)(a)(ii) of the Act:\n (a) the person completes an Ethics for Professional Advisers bridging unit, but this paragraph does not apply if the relevant item in Schedule 1 states that this paragraph does not apply;\n (b) any other condition specified in the item in Schedule 1 for the degree or qualification.\n\n> Note 2 Ethics for Professional Advisers bridging units are identified, by provider, in Schedule 2.\n\n (2A) Under subsection 921B(6) of the Act, each of the following ways for satisfying the conditions approved under subsection (2) of this instrument for completing an approved degree or qualification is approved for the purposes of subparagraph 921B(2)(a)(ii) of the Act:\n (a) the person has one or more academic transcripts, issued by the provider of the approved degree or qualification, which demonstrates that the person has met each of the approved conditions in relation to that approved degree or qualification;\n (b) the person has one or more statements, issued by the provider of the approved degree or qualification, confirming that the person has met each of the approved conditions in relation to that approved degree or qualification.\n (3) Under subsection 921B(6) of the Act, any Masters degree awarded by a higher education provider listed in Schedule 1 is approved for the purposes of paragraph 921B(2)(a) of the Act for a person, subject to the following condition being satisfied, namely, that the person has completed the units required to meet a Graduate Diploma listed in Schedule 1 offered by the higher education provider.","sortOrder":5},{"sectionNumber":"Part 3","sectionType":"part","heading":"Existing providers: qualifications equivalent to the education and training standard","content":"## Part 3—Existing providers: qualifications equivalent to the education and training standard\n\nNote Requirements for new entrants (that is, relevant providers who are not existing providers) are set out in Part 2.","sortOrder":6},{"sectionNumber":"7","sectionType":"section","heading":"Summary of requirements","content":"#### 7 Summary of requirements\n\n(1) A summary of the requirements for an existing provider to achieve qualifications equivalent to the education and training standard is set out below.\n\n```html\n

An existing adviser with …

must complete this number of additional units of study …

1

Approved Degree*

1

2

Relevant degree +ADFP

1

3

Relevant degree + professional study (2 credits)

1

4

Non-relevant degree + 4-7 units + an ADFP + professional study (2 credits)

1

5

Relevant degree + professional study (CPA, CA, SMSF) (1 credit)

2

5A

Relevant degree + post-graduate relevant degree

2

6

Non-relevant degree + 4-7 units + ADFP + professional study (1 credit)

2

7

Relevant degree + professional study (CIMA, CFA) (1 credit)

3

8

Non-relevant degree + 2 of the following: 4-7 units or ADFP or professional study (2 credits)

3

9

Non-relevant degree + 4-7 units + ADFP

3

10

Non-relevant degree + (4-7 units or ADFP) + professional study (1 credit)

4

11

Relevant degree

4

12

No degree + ADFP + professional study (2 credits)

4

13

No degree + ADFP + professional study (1 credit)

5

14

Non-relevant degree + 4-7 units

5

15

Non-relevant degree + ADFP

5

16

Non-relevant degree + professional study (2 credits)

5

17

Non-relevant degree + professional study (1 credit)

6

18

No degree + ADFP

6

19

No degree + professional study (2 credits)

6

20

No degree + professional study (1 credit)

7

21

Non-relevant degree

7

22

No degree

8

\n```\n\nNote The requirement for an existing provider with an approved degree to complete 1 additional unit of study is subject to section 6(2).\n\n(2) In the table:\n\nADFP means advanced diploma of financial planning.\n\nprofessional study means completed approved study to attain a professional designation worth 1 credit or 2 credits, as indicated.\n\n4-7 units means completed 4-7 units of study in a designated area of study.\n\nCA means completed approved study to attain the professional designation, during or after 1972, being the Chartered Accountant Program offered by the Chartered Accountants Australia and New Zealand.\n\nCFA means completed approved study to attain the professional designation, being the Chartered Financial Analyst Program offered by the CFA Institute.\n\nCIMA means completed approved study to attain the professional designation, during or after 2001, the Certified Investment Management Analyst Program offered by Portfolio Constructions Forum Pty Ltd.\n\n> CPA means completed approved study to attain the professional designation, during or after 1989, the CPA Program offered by CPA Australia Ltd.\n\nSMSF means completed approved study to attain the professional designation, during or after 2005, the SMSF Specialist Advisor Program offered by the SMSF Association Ltd.","sortOrder":7},{"sectionNumber":"8","sectionType":"section","heading":"Determination","content":"#### 8 Determination\n\n Under subsection 1684E(1) of the Act, for the purposes of paragraph 1684A(2)(b), subparagraph 1684C(3)(b)(ii), paragraph 1684D(3)(b) and subparagraph 1684D(4)(a)(ii) of the Act, for an existing adviser described in column 2 of the following table, the course or unit of study, or all the courses or units of study, specified in column 3 of the table for the adviser are determined to be courses that give the provider qualifications equivalent to the education and training standard in subsection 921B(2).\n\n| | Column 2 | Column 3 |\n| ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item | An existing adviser who has… | must complete these courses or units of study … |\n| 1 | an approved degree | an Ethics for Professional Advisers bridging unit |\n| 2 | both:(a) a relevant degree; and(b) an advanced diploma of financial planning. | an Ethics for Professional Advisers bridging unit |\n| 3 | both:(a) a relevant degree; and(b) completed approved study to attain 1 or more professional designation (worth 2 credits)Note See subsection 5(3). | an Ethics for Professional Advisers bridging unit |\n| 4 | all of the following:(a) a non-relevant degree;(b) an advanced diploma of financial planning;(c) completed at least 4 and not more than 7 units of study in a designated area of study;(d) completed approved study to attain 1 or more professional designation (worth 2 credits) | an Ethics for Professional Advisers bridging unit |\n| 5 | both:(a) a relevant degree; and(b) completed approved study to attain a professional designation described in paragraph 5(2)(a), (b) or (c) worth 1 creditNote These paragraphs relate to the Chartered Accountant Program, the CPA Program and the SMSF Specialist Advisor Program. | both:(a) an Ethics for Professional Advisers bridging unit; and(b) 1 of the following:(i) another approved bridging unit;(ii) an approved unit of study that is a capstone unit of study. |\n| 5A | both:(a) a relevant degree; and(b) a post-graduate relevant degree | both:(a) an Ethics for Professional Advisers bridging unit; and(b) 1 of the following:(i) another approved bridging unit;(ii) an approved unit of study that is a capstone unit of study. |\n| 6 | all of the following:(a) a non-relevant degree;(b) an advanced diploma of financial planning;(c) completed at least 4 and not more than 7 units of study in a designated area of study;(d) completed approved study to attain a professional designation described in paragraph 5(2)(a), (b) or (c) worth 1 credit | both:(a) an Ethics for Professional Advisers bridging unit; and(b) 1 of the following:(i) another approved bridging unit;(ii) an approved unit of study that is a capstone unit of study. |\n| 7 | both:(a) a relevant degree; and(b) completed approved study to attain a professional designation described in paragraph 5(2)(d) or (e) worth 1 creditNote These paragraphs relate to the Chartered Financial Analyst Program and the Certified Investment Analyst Program. | all 3 approved bridging units. |\n| 8 | both:(a) a non-relevant degree; and(b) any 2 of the following:(i) an advanced diploma of financial planning;(ii) completed at least 4 and not more than 7 units of study in a designated area of study;(iii) completed approved study to attain 1 or more professional designation (worth 2 credits) | all 3 approved bridging units. |\n| 9 | all of the following:(a) a non-relevant degree;(b) an advanced diploma of financial planning;(c) completed at least 4 and not more than 7 units of study in a designated area of study | all 3 approved bridging units. |\n| 10 | all of the following:(a) a non-relevant degree;(b) either:(i) an advanced diploma of financial planning; or(ii) completed at least 4 and not more than 7 units of study in a designated area of study;(c) completed approved study to attain a professional designation worth 1 credit | all the following:(a) all 3 approved bridging units;(b) an approved unit of study. |\n| 11 | a relevant degree but is not covered by another item in this table | all the following:(a) all 3 approved bridging units;(b) an approved unit of study. |\n| 12 | no degree but has both:(a) an advanced diploma of financial planning; and(b) completed approved study to attain 1 or more professional designation (worth 2 credits) | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 1 approved unit of study. |\n| 13 | no degree but has both:(a) an advanced diploma of financial planning; and(b) completed approved study to attain a professional designation worth 1 credit | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 2 approved units of study. |\n| 14 | both:(a) a non-relevant degree; and(b) completed at least 4 and not more than 7 units of study in a designated area of study | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 2 approved units of study. |\n| 15 | both:(a) a non-relevant degree; and(b) an advanced diploma of financial planning | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 2 approved units of study. |\n| 16 | both:(a) a non-relevant degree; and(b) completed approved study to attain 1 or more professional designation (worth 2 credits) | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 2 approved units of study. |\n| 17 | both:(a) a non-relevant degree; and(b) completed approved study to attain a professional designation worth 1 credit | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 3 approved units of study. |\n| 18 | no degree but has an advanced diploma of financial planning | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 3 approved units of study. |\n| 19 | no degree but has completed approved study to attain 1 or more professional designation (worth 2 credits) | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 3 approved units of study. |\n| 20 | no degree but has completed approved study to attain a professional designation worth 1 credit | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 4 approved units of study. |\n| 21 | a non-relevant degree but is not covered by another item in this table | all the following within a graduate diploma approved under Part 2:(a) all 3 approved bridging units;(b) 4 approved units of study. |\n| 22 | no degree and is not covered by another item in this table | a graduate diploma program approved under Part 2. |","sortOrder":8}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":false,"description":"This determination stays within the original statutory purpose: it implements the Corporations Act education and training standard by listing which qualifications and units count and by mapping historical qualifications into equivalence pathways for existing advisers. It does not add new regulatory purposes beyond prescribing the required studies and documentary evidence. The instrument does, however, operationalise the standard in detail by naming specific awards, providers and bridging units — that is an expansion in administrative detail but not a change of scope beyond implementing the Act's education standard."},"complexity_factors":["Large number of defined terms in section 5 (multiple cross‑definitions referencing AQF, TEQSA, NVET Act and time‑limited professional programs)","Extensive cross‑references to the Corporations Act (subsections 921B(6), 1684E(1), 1684A, 1684C, 1684D) requiring users to read both instruments","Two Schedules (Schedule 1 and Schedule 2) that list provider‑specific approved units and degrees (not reproduced in full here), creating external dependencies","A 22‑item equivalence table in Part 3 (section 8) with many conditional paths that map combinations of prior study and professional designations to differing additional study requirements","A credits system (1 or 2 credit professional study equivalents) and different treatment for multiple classes of prior learning (degrees, advanced diplomas, professional programs, units completed) increasing branching logic","Date‑limited clauses for certain professional designations (e.g. completion during or after certain years) that add temporal conditions","Nested conditional requirements (e.g. an approved degree may require an Ethics bridging unit unless the Schedule item says otherwise — see section 6(2))","Multiple acceptable forms of evidence (transcripts or provider statements) and a conditional Masters approval dependent on Graduate Diploma completion (section 6(2A) and 6(3))","Substantial tabular content embedded in the instrument (HTML table) which contains the operational rules — parsing that table is necessary to apply the law","References to external standards and publications (AQF 2nd ed.) which practitioners must consult to apply level criteria"],"plain_english_summary":"**What this instrument does (mechanically)**\n\n- This legislative instrument lists which university degrees, diplomas, professional programs and specific course units count towards the education and training standard required for people who give personal financial advice (\"relevant providers\") under the Corporations Act 2001. (See Part 2 and section 6.)\n- It defines key terms used to apply those approvals and equivalences (for example, \"relevant degree\", \"post‑graduate relevant degree\", \"advanced diploma of financial planning\", \"approved bridging unit\"). (See section 5.)\n- It prescribes the specific short bridging units (Schedule 2) and approved units of study (Schedule 1) that advisers must complete in order to meet the education standard, and the acceptable ways to show they have done so (academic transcripts or provider statements). (See section 6(2) and 6(2A).)\n- For people who already provide advice (\"existing providers\") it sets out a 22‑item equivalence table mapping common prior qualifications and professional designations to the additional units or graduate diploma requirements they must complete to be treated as meeting the education standard. This is the mechanics advisers use to determine how many and which units they still need. (See Part 3 and section 8.)\n- It also approves, with a condition, that a Master’s degree from a listed higher education provider counts only if the person has completed the units required to meet the listed Graduate Diploma. (See section 6(3).)\n\n**Who this affects**\n\n- Financial advisers and other \"relevant providers\" who must meet the Corporations Act education and training standard (both new entrants and existing providers). (See whole instrument/Preamble and Part 3.)\n- Higher education providers and registered training organisations whose awards and units are listed or relied on in Schedule 1 or Schedule 2; they may see demand if their courses are on the approved lists. (See section 5 definitions and Schedules.)\n- Professional associations and certificate programs named in the instrument (for example, CPA, Chartered Accountants, CFA, SMSF programs), because completion of those programs is treated as credit toward the standard. (See section 5(2)–(3) and Part 3 items referencing those programs.)\n- Firms employing advisers and licensees that must check advisers meet the standard — they will need to assess transcripts/statements against the mapping rules in Part 3. (See section 6(2A) and section 8.)\n\n**Why it matters (practical consequences)**\n\n- It determines who already meets the education requirement and who needs to undertake further education. The instrument converts a wide variety of historical qualifications and professional programs into a common set of \"credits\" and specific short units or graduate diploma requirements. (See sections 5, 6 and 8.)\n- Individuals without a full \"relevant degree\" face higher incremental study requirements (more units or a graduate diploma) than those with relevant tertiary qualifications; the mapping shows explicit substitution of prior learning and professional credentials for additional study. (See the 22‑item table in section 8 and definitions in section 5.)\n- Named programs and specific provider qualifications are explicitly recognised. That creates a stable pathway for advisers who hold those credentials, but it also privileges particular providers/awards by listing them by name in the Schedules and in the definition of \"advanced diploma of financial planning\" and the professional‑designation lists. (See section 5 and Schedules referenced in section 6.)\n\n**Implementation and compliance mechanics**\n\n- The instrument operates by approving degrees and specifying conditions (for example, completion of an \"Ethics for Professional Advisers\" bridging unit where required). Licensees or advisers demonstrate compliance by supplying transcripts or provider statements. (See section 6(1)–(2A).)\n- For existing advisers the instrument prescribes, by reference to combinations of previous study and professional programs, which bridging units and/or approved units must be done to reach equivalence with the education standard. (See Part 3 / section 8.)\n\n**Costs, incentives and trade‑offs (light analytical lens)**\n\n- Who pays: individual advisers (or their employers) will generally bear the direct cost of completing bridging units, capstone units or a graduate diploma. (Section 8 items set the required additional study.)\n- Who decides: the instrument (a legislative determination under the Corporations Act) fixes which qualifications and units count; higher education and training providers decide their curricula and whether to offer the approved bridging units and capstone units. The regulator/licencee must verify compliance using the specified documentary evidence. (See sections 3, 6(2A), 8.)\n- Incentives and substitution: the mapping rewards advisers who previously completed specific professional programs or named diplomas (they need fewer additional units). Advisers lacking those qualifications are steered toward completing a larger package of units or a graduate diploma. (See the 22‑item equivalence table in section 8.)\n- Market effects: named recognition of particular programs and providers creates predictable demand for those providers’ courses and for providers who can deliver the approved bridging units — that can concentrate benefits for those providers. The instrument also creates explicit pathways for non‑degree holders, which may increase demand for graduate diplomas offered to mature or industry‑experienced advisers. (See Schedule references and section 8 items requiring graduate diplomas.)\n- Compliance burden & administrative risk: licensees and advisers must interpret the mapping table and provide transcripts/statements to show they meet the approved conditions. The presence of date‑limited equivalences for some professional programs (see section 5(2)–(3) where completion dates are specified) increases administrative complexity. (See section 6(2A) and section 5(2)–(3).)\n- Implementation risk: the instrument depends on Schedules listing specific units and providers. If providers change course names, repackage awards or merge, keeping the lists current may require updates to the legislative instrument or administrative guidance. (See section 6 and references to Schedules 1 and 2.)\n\n**Concrete behaviour change the instrument causes**\n\n- Some advisers must enrol in one or more short bridging units (particularly an Ethics for Professional Advisers bridging unit in many circumstances) or in a graduate diploma containing the listed units, to meet the Corporations Act education standard. (See section 6(2) and the table in section 8.)\n- Higher education providers and vocational education providers will decide whether to offer the approved bridging units and capstone units; providers listed in the Schedules can expect to be used by advisers seeking equivalence. (See Schedules referenced in section 6.)\n\n**Key legal hooks and references**\n\n- Authority: made under the Corporations Act 2001 (see section 3) and specifically implements the approval powers in subsection 921B(6) and the equivalence provisions mentioned in section 1684E(1) as cited in section 6 and section 8.\n\n(Primary sections cited: section 5 (definitions), section 6 (approvals and documentary evidence), section 7 (summary of existing provider requirements), section 8 (determination — the 22‑item equivalence table), and Schedules 1 and 2.)"},"kimi_summary":{"content_quality":"ok","complexity_score":7,"scope_assessment":{"changed":false,"description":"The legislation appears tightly scoped to its original purpose of defining education standards for financial advisers. The complexity arises from accommodating diverse historical qualifications rather than scope creep. The detailed pathways in Part 3 reflect a deliberate policy choice to provide grandfathering arrangements for existing advisers, not an expansion beyond the original intent of setting minimum education standards."},"complexity_factors":["22 distinct pathway categories in the existing provider table (section 8), each with different combinations of prerequisites","Nested definitions: 'completed approved study to attain a professional designation' has two subsections (5(2) and 5(3)) with 11 and 5 separate program variations respectively, some with date restrictions (e.g., 'during or after 2009 and before December 2013')","Multiple overlapping qualification types: approved degrees, relevant degrees, non-relevant degrees, post-graduate relevant degrees, and advanced diplomas, each with 3-4 definitional criteria","10 designated areas of study listed in definition, some conditional on Tax Practitioners Board approval","6 different historical versions of diplomas/certificates recognized under 'advanced diploma of financial planning' with specific date cutoffs (e.g., Certificate in Financial Markets only counts if completed 1982-1990)","Cross-references to external frameworks: Australian Qualifications Framework (AQF), Corporations Act sections 910A, 921B, 1546A, 1684A-D, and TEQSA Act","Conditional logic in section 6: ethics requirement applies unless Schedule 1 states otherwise","Dual structure: Part 2 for new entrants, Part 3 for existing providers with completely different compliance mechanisms"],"plain_english_summary":"This law sets minimum education standards for Australian financial advisers, approving specific degrees and requiring an ethics bridging unit for new advisers. For existing advisers it creates a credit-based pathway: prior degrees, diplomas or professional designations reduce required additional study, from a single ethics unit up to a full graduate diploma if no relevant qualifications exist. It implements post‑Royal Commission reforms to lift adviser competence while allowing flexible transition."}},"importantCases":[],"_links":{"self":"/api/acts/corporations-relevant-providers-degrees-qualifications-and-courses-standard-determination-2021","history":"/api/acts/corporations-relevant-providers-degrees-qualifications-and-courses-standard-determination-2021/history","analysis":"/api/acts/corporations-relevant-providers-degrees-qualifications-and-courses-standard-determination-2021/analysis","conflicts":"/api/acts/corporations-relevant-providers-degrees-qualifications-and-courses-standard-determination-2021/conflicts","importantCases":"/api/acts/corporations-relevant-providers-degrees-qualifications-and-courses-standard-determination-2021/important-cases","documents":"/api/acts/corporations-relevant-providers-degrees-qualifications-and-courses-standard-determination-2021/documents"}}