ASIC says it has begun a further review of the Financial Advisers Register to check whether relevant providers have met the qualifications standard.
The regulator says that the targeted review “…will examine a sample of qualifications and training courses that Australian financial services licensees have recorded on the register as contributing toward their relevant providers meeting the standard.”
It says this “…follows an earlier ASIC review of relevant providers whose FAR records did not list any qualifications or courses as going toward meeting the qualifications standard.”
ASIC is also continuing to monitor notifications about relevant providers relying on the experienced provider pathway to meet the standard…
The commission notes it is also continuing to monitor notifications about relevant providers relying on the experienced provider pathway to meet the standard.
As background, ASIC says that since January 1, 2026, all relevant providers who provide personal advice to retail clients on relevant financial products must meet the qualifications standard.
“Relevant providers who missed their applicable deadline cannot remain authorised to provide this advice.
“ASIC reminds AFS licensees and relevant providers to check that FAR records accurately show how each adviser meets the qualifications standard.
“It is a serious offence to knowingly give ASIC false or misleading information, or to fail to take reasonable steps to ensure information provided is true and correct,” the commission states.
