The Australian Securities and Investments Commission (ASIC) has issued what it is describing as its “final warning” to financial advisers to update their details ahead of the 1 January deadline on education and training requirements.
In doing so, the regulator has issued the following assessment based on review of the information on the Financial Advisers Register which it says shows:
As of 20 November 2025, of the 15,469 relevant providers on the Financial Advisers Register, AFS licensees have notified ASIC that 7,959 hold an approved degree or qualification, 4,212 are relying on the experienced provider pathway, and 972 are recorded as holding both an approved degree or qualification and relying on the experienced provider pathway.
The remaining 2,326 relevant providers have yet to meet the qualifications standard according to the information currently recorded on the Financial Advisers Register. Of this cohort, 836 may be eligible for the experienced provider pathway, but their AFS licensees are yet to notify ASIC of this.
827 relevant providers who are also existing providers, unless exempt, will need to complete the specified courses in commercial law and taxation law to continue to provide tax (financial) advice services from 1 January 2026.
which includes step by step instructions on how advisers can review the one-off data set published by ASIC and provides information on how to update any incomplete or inaccurate information.
It said that for relevant providers who are also existing providers and who do not meet the qualifications standard by 1 January 2026, their AFS licensee should consider ceasing their authorisation on or before 31 December 2025 to avoid consequences to the existing provider status.
“In accordance with the legislation, if the relevant providers remain authorised and their authorisation ceases by operation of law on 1 January 2026, they will be required to compete a professional year and obtain an approved degree or equivalent qualification set out in Schedule 1 of the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021 before they can provide personal advice to retail clients again. They will be unable to meet the qualifications standard by accessing the existing provider pathways as set out in Part 3 of the determination.
“AFS licensees are responsible for ensuring relevant provider records are accurate and up to date on the Financial Advisers Register.”