ASIC declares adviser register implementation date
The Australian Securities and Investments Commission's (ASIC's) adviser register should be up and running for consumer and licensee use on 31 March.
The regulator has declared that it is well advanced on the adviser register project and that it will be making regulations relating to the register over coming days.
It said it was working with licensees and authorised representatives to assist them to provide the required information in accordance with the timetable in planned regulations.
The ASIC announcement confirmed that the register would contain details of all persons employed or authorised — directly or indirectly — by Australian financial services (AFS) licensees who are authorised to provide personal financial advice to retail clients on Tier 1 (investment) products.
It described Tier 1 products as being financial products other than basic banking products, general insurance products or consumer credit insurance products or a combination of any of those products.
Recommended for you
High-net-worth advisers seeking to grow their businesses are likely to find alternatives to be a key part of the puzzle amid investor demand, according to Praemium’s head of private wealth.
The financial advice profession has lifted back above the 15,500 mark this week thanks to a double-digit net rise in adviser numbers, according to Wealth Data.
A closer watch on licensees that fall short on cyber security protections is among a dozen new enforcement priorities announced by the corporate regulator for 2025.
Research house Morningstar has welcomed a new director for manager research to cover Australian and New Zealand fund managers.
