Accredited Derivatives Adviser (ADA) Courses
From 1 August 2010 the Australian Securities and Investments Commission (ASIC) assumed market supervision from the Australian Securities Exchange (ASX).
There is an accreditation process for Representatives of Market Participants who provide advice or make recommendations to retail clients on ASX exchange-traded options and warrants. The Accredited Derivatives Adviser (ADA) Courses are designed to help you meet the educational requirements needed to apply for accreditation.
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Who Should Enrol
The ADA 1 and ADA 2 courses are designed for:
- those intending to provide advice on ASX exchange-traded options and warrants
- those seeking to expand their trading experience to the Australian options market
Prerequisites
There are no prerequisites for entry into either of the ADA courses, however only representatives of an ASX Market Participant may be accredited upon successful completion.
Course Information
There are two levels of accreditation and courses should be chosen based on the level of advice you wish to provide:
- Level One Accreditation (ADA1) - enables you to provide advice on warrants and exchange-traded options strategies that are not likely to expose the client to potential margin calls. Click to view ADA1 learning outcomes.
- Level Two Accreditation (ADA2) - enables you to provide advice on warrants and all exchange-traded options strategies. Click to view ADA2 learning outcomes.
Enrol online or refer to the ADA Brochure for more information.
Delivery
The courses are self-paced and delivered via self-study with access to an online student portal.
Assessment
There is one assessment: an exam.The first exam attempt must be taken within four months of enrolment. Any exam resit must be taken within six months of enrolment.
Please refer to the Kaplan Assessment Policy for further details.
ASIC RG 146 Requirements
If you wish to provide advice or make recommendations to retail clients on derivatives products you are required to be ASIC RG 146 compliant in the areas of Generic Knowledge and Derivatives. If that advice is personal in nature, as opposed to general, you will also have to meet the ASIC skill requirements.
ADA1 is listed on the ASIC Register as meeting the requirements for Generic Knowledge and Derivatives. If the skills assessment is also successfully completed then the ASIC skill requirements are also met. Until the skills assessment is successfully completed, advisers are not entitled to give personal advice to retail customers.
For more information on completing the skills requirement, refer to the Derivatives Workplace Skills Assessment Brochure.
ASIC Accreditation
Initial Accreditation
To become accredited, after successful completion of either the ADA1 or ADA2 exam, an applicant's Market Participant is required to provide written notification to ASIC.
Accreditation forms are available from the ASIC website.
On receipt of the written notification ASIC will provide the Market Participant with written confirmation of the candidate's accreditation.
Ongoing Accreditation
When an applicant's accreditation has been withdrawn or expired, if they are to continue offering derivatives advice, their Market Participant needs to apply for re-accreditation.
Please note: if an adviser leaves the employment of a Market Participant, or ceases to be a representative, the accreditation of the adviser is immediately withdrawn and the Market Participant must notify ASIC within 5 business days. The relevant form is available from the ASIC website.
Continuing Professional Development (CPD)
Successful completion of the Accredited Derivatives Adviser (ADA) exams may be counted towards continuing professional development (CPD).
Kaplan suggests allocating six compliance and four structured hours for ADA1 and four structured hours for ADA 2. However, licensees should make their own determination as to a relevant and appropriate amount of time.
Study Information
Refer to the following links for further information, or visit Study Information:
Practice Exams
Timetables and Dates for Kaplan Office Exam Times & Dates
ASX Related Forms