• Phone: (08) 9328 6372
  • U3/1 Sangiorgio Court, Osborne Park, WA 6017

The Australian Securities and Investments Commission (ASIC’s) responsibilities regarding the financial advice industry will be broadened under the Better Advice Bill. From 1 January 2022 ASIC will take on additional responsibilities including administration of the financial adviser exam.

The Act, commencing on 1 January 2022, will:

  • expand the role of the Financial Services and Credit Panel (FSCP) by providing it with its own functions and powers, including powers to address less serious misconduct
  • wind up the Financial Adviser Standards and Ethics Authority (FASEA) and transfer the administration of the financial adviser exam to ASIC
  • introduce a single registration and disciplinary system for financial advisers who provide tax (financial) advice services
  • require all financial advisers to be registered from 1 January 2023

More information.

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