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.
AUTHOR
Laura Dew
Recommended for you
ASIC has released the results of the latest financial adviser exam, held in November 2025.
Winners have been announced for this year's ifa Excellence Awards, hosted by Money Management's sister brand ifa.
Adviser exits have reported their biggest loss since June this week, according to Padua Wealth Data, kicking off what is set to be a difficult December for the industry.
Financial advisers often find themselves taking on the dual role of adviser and business owner but a managing director has suggested this leads only to subpar outcomes.
