The Australian Securities and Investments Commission (ASIC) has released the first sitting dates for this year’s financial adviser exam, taking over the administration of the tests from the Financial Adviser Standards and Ethics Authority (FASEA).

The first sitting takes place from February 17-21.

ASIC took over administration of the exam from FASEA on January 1, following the commencement of the Financial Sector Reform (Hayne Royal commission Response – Better Advice) Act 2022.

As part of the reforms introduced by the bill, FASEA has ceased operations.

ASIC says it has entered into a contract with the Australian Council for Educational Research (ACER) to facilitate administration of the exam. ACER assisted FASEA with the administration of the exam and will continue to assist ASIC with administering the exam through this year.

The regulator says it is working with ACER to finalise the sitting dates for the rest of the year.

“Including the February sitting, there will be three financial adviser exam sittings taking place before September 30 2022,” ASIC said.

Examinees sitting the first three exams this year can choose to do the test in an exam centre or through remote proctoring.

From October 1, exams will only be available via remote proctoring, ASIC said.