The ASX, together with the Stockbrokers And Financial Advisers Association (SAFAA), are offering ADA 1 and ADA 2 Scholarships for a limited period. Scholarships are designed to help advisers expand their knowledge and understanding of derivative products. Each Scholarship is valued up to $400 and covers the full cost of the ADA 1 or ADA 2 enrolment plus a complimentary one hour training session.
Scholarship candidates must meet ASX / SAFAA Scholarship Eligibility Requirements – see below:
- The Scholarships are available to applicants between November 2018 and May 2019.
- Successful Scholarship recipients will be enrolled in ADA 1 or ADA 2 (note: candidates cannot apply for both ADA 1 and ADA 2 in this Scholarship period).
- Each Scholarship recipient will be enrolled in a complimentary training session. The training sessions are designed to assist Scholarship candidates understand derivative material and assist in passing assessments. The ADA 1 training sessions are 1.5 hours and the ADA 2 training sessions are 1 hour. Scholarship recipients will be contacted with dates/times for the training session once their application has been approved.
- Successful completion of ADA 1 or ADA 2 is expected. Any subsequent re-sit costs to be covered by adviser.
- All Scholarships are to be approved by ASX. Simply contact ASX or apply directly through SAFAA.
Scholarship Applicants must be:
- an employee or authorised representative of an ASX Market Participant; and
- be ASIC RG 146 compliant; and
- be actively advising clients in equities or derivatives (ADA 1 or ADA 2 – sign off from compliance manager or authorised person must be provided); and
- are to provide, in writing, how they plan to include derivatives, where appropriate, in future advice to clients.
ASX / SAFAA Scholarships enquires to Gillian Gilmore, Head of Education on email email@example.com or telephone 02 8080 3200.
Click here for the ADA 1 and ADA 2 Scholarship application form (pdf).
The Stockbrokers And Financial Advisers Association (SAFAA) offers Accredited Derivatives Adviser Level 1 (ADA1) and Accredited Derivatives Adviser Level 2 (ADA2) accreditations.
Continuing Professional Development (CPD)
The ADA 2 Accreditation provides 20 FASEA CPD hours to candidates. See breakdown for FASEA areas:
|FASEA CPD Area|
|Technical competence||10 hours|
|Regulatory compliance and consumer protection||5 hours|
|Total Hours||20 hours|
Regarding RG146 CPD, candidates may claim 20 hours of CPD in Generic, Securities and/or Derivatives, and including 8 hours of Compliance CPD for completing Accredited Derivatives Adviser – Level 2 (ADA 2).
Accredited Derivatives Adviser Level 2 (ADA2) complies with the requirements set out in Part 2.4 Retail client Adviser Accreditation of ASIC Market Integrity Rules (Securities Markets) 2017.
Advisers accredited at ADA2 level are allowed to advise on:
- Writing options (other than for the purposes of closing out a taken position, or writing covered calls)
- Taking or writing LEPOs.
Who should complete the accreditation?
The accreditation is developed for individuals who are financial advisers and who have completed ADA1.
Is there any assumed pre-requisite knowledge?
Attendees must successfully complete ADA1 before enrolling in ADA2.
Note: Candidates may complete ADA1 and ADA2 at the same time. However, they must complete ADA1 successfully before enrolling in ADA2 separately. Candidates have twelve (12) months to complete ADA1 and ADA2 when enrolling at the same time (not three (3) months as per single accreditation enrolments)
1 x Online Exam (Closed Book, 50 questions, 2hrs + 15 min reading time, 80% pass mark)
Suggested study hours
Allow up to 150 hours
How does the accreditation process work?
Accreditations are administered for us by Western Sydney University The College RTO (The College), a division of Western Sydney University. Please note: enrolments close at 3.00pm every Thursday Sydney time.
- Candidate enrols online/registration is received
- Candidate receives Confirmation email from SAFAA acknowledging enrolment, and that WSU The College will send details the following Friday
- Candidate receives Welcome email from WSU The College on Friday with all accreditation information/materials
- Candidate completes and returns Exam Booking Form to book in their exam day/time. This must be done at least 2 days prior to exam
- WSU The College releases exam/closes exam at designated day/time
- The Candidate’s approved Supervisor supervises exam, and returns the Declaration by Exam Supervisor to WSU The College
- Candidate receives result (results are issued end of each day). Candidate receives Certificate (Certificates are issued end of each month, following receipt of Declaration by Exam Supervisor).
$320 Individual Member
$330 Organisation Member
Accredited Derivatives Adviser Level 1 & 2 (ADA1 & ADA2):
$690 Individual Member
$710 Organisation Member
Enrolment form (to be completed and returned by candidates who are not enrolling online via this website)
- Application to be an Online Supervisor (to be completed and returned by new Supervisors)
- Declaration by Online Exam Supervisor (to be completed and returned by Supervisors following supervision of a candidate’s online exam)
SAFAA/WSU The College Exam Booking Form (to be completed and returned by candidate at least 2 days prior to them sitting their online exam)
Enrolments close at 3.00pm every Thursday Sydney time.