Registering a relevant provider with ASIC
Australian financial services (AFS) licensees are required to register their relevant providers (including time-share providers) with ASIC before they provide personal advice to retail clients. Provisional relevant providers cannot be registered.
If a relevant provider gives personal advice while unregistered, the relevant provider will be in breach of a restricted civil penalty provision. The relevant provider’s authorising AFS licensee(s) will have committed an offence of strict liability and contravened a civil penalty provision. Both the relevant provider and the authorising AFS licensee(s) may be subject to regulatory action.
Important information
AFS licensees can only apply to register relevant providers they have appointed and who are recorded on the Financial Advisers Register.
A relevant provider’s registration takes effect once ASIC records on the Financial Advisers Register that the relevant provider is registered. Information relating to a relevant provider’s registration status is available on the Financial Advisers Register published on ASIC's Moneysmart website and in the Financial Advisers dataset available on data.gov.au.
Key information required
An AFS licensee completing the registration application (either on behalf of a relevant provider or as the relevant provider) must provide the following information for each relevant provider that they are applying to register:
- representative number
- the relevant provider’s principal place of business
- the relevant provider’s email address
- the relevant provider’s phone number.
AFS licensees completing the registration application must provide various declarations in relation to:
- the relevant provider's fitness and propriety to provide personal advice to retail clients in relation to relevant financial products
- the relevant provider education and training standards set out in section 921B of the Corporations Act, and
- if they provide, or intend to provide, a tax (financial) advice service whether the relevant provider is a qualified tax relevant provider (as defined in section 910A of the Corporations Act).
For more information about the declarations required as part of the registration process, see Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277).
Where can I get more information?
For additional guidance, go to:
- Information Sheet 276 Registration of relevant providers (INFO 276)
- Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277)
- ASIC webinars on the registration of relevant providers
- Information Sheet 268 Relevant providers who provide tax (financial) advice services (INFO 268)
- Applying the professional standards
You can also contact ASIC.
