FNSv3.1 Financial Services Training Package includes 46 qualifications ranging from Certificate II to Graduate Diploma. The following thirteen qualifications support traineeship pathways:

• FNS20115 Certificate II in Financial Services
• FNS30115 Certificate III in Financial Services
• FNS30317 Certificate III in Accounts Administration
• FNS30415 Certificate III in Mercantile Agents
• FNS30515 Certificate III in General Insurance
• FNS30615 Certificate III in Insurance Broking
• FNS40115 Certificate IV in Credit Management
• FNS40217 Certificate IV in Accounting and Bookkeeping
• FNS40815 Certificate IV in Finance and Mortgage Broking
• FNS40915 Certificate IV in Superannuation
• FNS41415 Certificate IV in General Insurance
• FNS41815 Certificate IV in Finance Services
• FNS42015 Certificate IV in Banking Services

Under Training Services NSW transition arrangements, a superseded qualification can be specified on apprenticeship and traineeship applications for up to six months after new or updated Vocational Training Orders come into effect. The relevant expiry dates for new apprenticeship and traineeship applications are listed below.

Registered Training Organisation's (RTOs) may commence training in either the new or superseded qualification but must meet the requirements of the Australian Skills Quality Authority (ASQA) to update the enrolment of their students to the current qualification before the qualification expiry date, generally 12 months after the current qualification has been added to the national register. For more information refer to ASQA's General Direction - Learner Transition.

Training Services NSW and Australian Skills Quality Authority (ASQA) transition arrangements are aligned and applied retrospectively from 1 September 2015.

Registered training organisations (RTOs) may commence training in either the new or superseded qualification but must meet the requirements of ASQA. For more information refer to ASQA's General Direction - Learner Transition.

On successful completion of the relevant qualification

• parties may apply to the Commissioner for Vocational Training for completion of the apprenticeship/traineeship prior to the nominal completion date of the training contract or;
• Training Services NSW may issue letters from the Commissioner to both parties inviting them to consider competency based completion if it has received advice from the Training Organisation that the apprentice or trainee is eligible to receive their qualification.

For more information and an application form, click here.

Applications to establish traineeships whether full-time, part-time or school based will not be approved unless the Commissioner for Vocational Training is satisfied that appropriate industrial arrangements are in place.

Trainees may be employed under the following awards:

• Banking, Finance and Insurance Award 2010
• Clerks - Private Sector Award 2010
• Social, Community, Home Care and Disability Services Award 2010

All private sector employers and employees in New South Wales are now covered by the Fair Work national workplace relations system. The industrial instrument that applies will be a national (modern) award or a current enterprise agreement registered with Fair Work Australia. Further information is available from the Fair Work Ombudsman by telephoning 13 13 94.

The following qualifications are suitable for delivery in schools:

• FNS20115 Certificate II in Financial Services
• FNS30115 Certificate III in Financial Services
• FNS30317 Certificate III in Accounts Administration

For all school based part-time apprenticeship and traineeships currently being delivered in New South Wales, refer to School Based Traineeships. For further information on the delivery of training for school based apprenticeships and traineeships refer to Training Arrangements.

The Australian Security and Investments Commission (ASIC) requires that organisations wishing to use the FNS10 Financial Services Training Package for ASIC compliance should ensure that the units chosen cover the knowledge and skills required by ASIC. For further information go to ASIC.

As FNS30415 Certificate III in Mercantile Agents covers the functions of process serving, repossessions and debt collection, NSW Police licensing requirements apply. Trainees must hold a probationary Commercial Agents and Private Inquiry Agents (CAPI) licence. Probationary CAPI licences are issued by the Security Licensing and Enforcement Directorate (SLED). In accordance with CAPI legislation, only persons aged 18 years and above can hold a probationary CAPI licence. This restriction effectively precludes applicants younger than 18 years from being approved for a FNS30415 Certificate III in Mercantile Agents traineeship.

The probationary licence has effect for one year from the date on which it is granted. Going from a probationary licence to a full operator licence is an automatic entitlement at the end of 12 months. For further information, go to Operator Licence.

Further information about CAPI licensing requirements is available from SLED.

Note - When a training contract for a Certificate III in Mercantile Agents traineeship is being lodged with a Training Services NSW Regional Office for approval, the contract must be accompanied by evidence of a probationary CAPI licence.

FNS30615 Certificate III in Insurance Broking - Selecting identified elective units in FNS30615 Certificate III in Insurance Broking could enable the trainee to meet ASIC accreditation requirements for providing financial product advice. More information about conditions relating to ASIC accreditation can be obtained from the ASIC website.

FNS40115 Certificate IV in Credit Management - The qualification includes Units of Competency designed to meet the educational requirements for obtaining an Australian Credit Licence (ACL). Anyone who engages in certain credit activities requires an ACL. Conditions relating to Australian Securities & Investments Commission (ASIC) accreditation should be obtained from ASIC.

FNS40217 Certificate IV in Accounting and Bookkeeping and FNS40615 Certificate IV in Accounting and the Tax Agents Services Act 2009 - Bookkeepers completing and signing Business Activity Statements (BAS) must meet the requirements of the Tax Agents Services Act 2009.

Arts, Communications, Finance Industries and Property Services advise that FNS40217 Certificate IV in Accounting and Bookkeeping is the most appropriate qualification to meet the provisions of the Act.

For registered training providers that can deliver the traineeship qualifications go to training.gov.au.

A list of training organisations which are in contract with the NSW Department of Industry to be paid for the delivery of the training is here.

When developing Training Plans, registered training providers should ensure that the training program satisfies the qualification packaging requirements and at the same time, reflects the nature of the business. Training Plans should be customised so that workplace activities support and align with the qualification units of competency.

From 1 January 2015 the NSW Government introduced new fee arrangements for government subsidised vocational education and training (VET). Under Smart and Skilled, all apprenticeship and most traineeship qualifications are subsidised. For a full list of all the qualifications refer to the current NSW Skills List. Information on the types and levels of subsidies can be found in the "Smart and Skilled Fee Administration Policy". Training for existing-worker trainees is not subsidised.

A copy of each Vocational Training Order is available for inspection on this internet site below or at any Training Services NSW Regional Office of the NSW Department of Industry.

For any enquiries regarding this Commissioner's Information Bulletin, please contact the Apprenticeship and Traineeship Unit on (02) 8267 7740.

Approved by Tricia O'Donovan
for Commissioner for Vocational Training