The Australia Securities and Investment Commission (ASIC) has ranked the RG 146 Gap Training program for CFA charterholders and CFA Program candidates at Tier 1. The RG 146 Gap Training Program is intended for candidates who have passed the CFA Level I exam or charterholders who wish to fulfill the requirements necessary to provide both financial product advice to retail clients and personal advice.
See CP 153 Licensing: Assessment and professional development framework for financial advisers. Released 6 April 2011.
This consultation paper seeks feedback on our proposed assessment and professional development framework for financial advisers in Australia. The proposed framework is intended to enhance and maintain the competence of financial advisers, lead to improvements in the quality of advice and increase consumer confidence.
The paper includes an outline of the current training and competence requirements for financial advisers under Regulatory Guide 146 Licensing: Training of financial product advisers (RG 146), informal consultation we have undertaken and a proposed three-stage assessment and professional development framework.
Our proposals may be of interest to existing and new financial advisers, Australian financial services (AFS) licensees, authorised representatives, training organisations and consumers of financial advice.
Information about RG 146 Gap Training Program for CFA charterholders and candidates - General Advice.
Information about RG 146 Gap Training for CFA charterholders and candidates – Personal Advice
The South African Qualifications Authority (SAQA) has benchmarked the CFA charter as comparable to its National Certificate in Financial Markets and Instruments.
Find information about the National Certificate.
The UK National Academic Recognition Information Centre (UK NARIC**) has benchmarked the CFA Program and the CFA charter as comparable to a Qualifications and Credit Framework (QCF) Master's Level 7.
Each level of the CFA Program has been benchmarked to provide comparability:
- Level III of the CFA Program and the CFA charter are benchmarked at Level 7 by NARIC
- Level II of the CFA Program is benchmarked at Level 6 by NARIC
- Level I of the CFA Program is benchmarked at Level 5 by NARIC
In addition, UK NARIC was commissioned by CFA Institute to undertake an international benchmarking study to compare the CFA qualifications against the education systems in Australia, Canada, Hong Kong, India, the Republic of Ireland, Malaysia, the Philippines, Singapore, South Africa, Switzerland, US, and the UK (in the context of the Scottish and Welsh systems).
View the report titled "International Benchmarking Analysis of CFA Institute Qualifications - Executive Summary". (PDF)
** The general purpose of the ENIC NARIC network is to provide guidance on academic matters for those wishing to study outside their home country. Find out more about the ENIC NARIC network.
The UK National Academic Recognition Information Centre (UK NARIC) has benchmarked the Expert Level of the CIPM Program and the CIPM designation as comparable to a QFC Bachelor's Level 6 qualification.
- The Expert Level of the CIPM Program and the professional designation are comparable to QCF Level 6
- The Principles Level of the CIPM Program is comparable to QCF Level 5
Claritas Investment Certificate
The Malaysian Finance Accreditation Agency (FAA) has granted the Claritas Investment Certificate the status of FAA Full Accreditation (FFA).
The UK National Academic Recognition Information Centre (UK NARIC) has benchmarked the Claritas Investment Certificate as comparable to a QCF Level 3 qualification.