ASIC agrees to extend adviser registration date

Following statistics that over a quarter of financial advisers are yet to complete their financial adviser registration, ASIC has extended the deadline. 

Earlier this week, it was announced that almost 6,000 advisers were yet to register as of 11 January. ASIC has since announced that as of 18 January, 4,036 are still not registered which represents a quarter of total advisers.

As such, the regulator has decided to extend it for two weeks until 16 February 2024. 

“Given that the period for registration has coincided with the summer holiday period, ASIC is providing AFS licensees an additional two weeks to register their relevant providers.

“ASIC has made an instrument which, on commencement, will extend the registration period until 16 February 2024.”

No further extensions will be given after this date. 

ASIC commissioner Alan Kirkland said: “ASIC has provided a short extension in recognition of the fact that the initial period for registration has coincided with the summer holiday period.

“We acknowledge those AFS licensees who, since late November, have registered their advisers ahead of the requirement commencing. We urge AFS licensees that have not registered their advisers to do so as soon as possible.”

More to come.