See the preamble to Information Sheet 276 Registration for relevant providers (INFO 276).
ASIC webinars on the registration of relevant providers
In December 2023, ASIC hosted two webinars to provide more information to AFS licensees and relevant providers about the requirement for relevant providers to be registered. The first webinar provided a broad overview of the registration requirement. The second webinar provided a practical guide on how to register a relevant provider.
See below for the following webinar resources:
- recordings of the webinars
- the webinar slides
- a consolidated webinar Q&A where we answer the questions asked during the webinars.
Note: ASIC has extended the due date for registration by two weeks and confirms 16 February 2024 as the final date for the commencement of the registration requirement. Read more about the extension.
Webinar recordings
Registration of relevant providers
Download the slides (PPT 3.8 MB)
Practical guide on how to register a Relevant Provider webinar
Download the slides (PPT 3.4 MB)
Webinar Q&A
See below for a consolidated list of the questions asked during the course of the webinars.
Jump to:
- Registration generally
- Deemed registration
- Bulk registration and confirming registrations on a large scale
- Cessation of registrations
- Declarations generally
- Experienced providers
- Fit and proper person declarations
- Education and training standard declarations
- Declarations on the relevant provider’s ability to provide tax (financial) advice services
- ASIC Connect
Registration generally
The appointment transaction is the mechanism by which an AFS licensee notifies ASIC that it has authorised a relevant provider to provide personal advice to retail clients on its behalf.
The registration transaction relates to a separate legal requirement where all relevant providers, except provisional relevant providers, must be registered with ASIC. See Question 1 of Information Sheet 276 Registration for relevant providers (INFO 276).
These transactions are and will remain separate transactions on ASIC Connect.
No. The requirement for relevant providers to be registered is a new obligation introduced by the Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Act 2021 (Better Advice Act). The requirement commences from 1 February 2024. AFS licensees can apply to register their relevant providers with ASIC now using ASIC Connect. See Question 2 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
The date by which all relevant providers must be registered is 1 February 2024.
Generally, no. However, if a relevant provider’s registration has ceased because, for example, they have recently changed AFS licensees, the Financial Advisers Register may not be up to date as to the relevant provider’s registration status. See Questions 18 and 21 of Information Sheet 276 Registration for relevant providers (INFO 276) for further information.
Yes. However, if the relevant provider has changed AFS licensees or was the subject of a banning or prohibition order since this time, the relevant provider will need to be registered again. See Questions 18, 20 and 21 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
Yes, the AFS licensee is required to separately register the relevant provider by lodging a ‘registration’ transaction on ASIC Connect. See Question 2 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
No. See Questions 3 and 4 and the definitions section of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
This is a temporary notation which means that the relevant provider is not yet registered. From 1 February 2024, if the relevant provider or time-share adviser remains unregistered, this blank or dash notation will be replaced by ‘not registered’ because this is the date that the registration requirement commences. For provisional advisers, the blank or dash notation will be replaced by ‘not applicable’ because provisional relevant providers cannot be registered.
See Question 16 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
Yes. From 1 February 2024, a relevant provider cannot provide personal advice to retail clients without being registered. Provisional relevant providers cannot be registered.
From 1 February 2024, relevant providers, except provisional relevant providers, cannot provide personal advice to retail clients on relevant financial products unless they are registered. See Question 7 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
No. See Question 7 of Information Sheet 276 Registration for relevant providers (INFO 276).
A registration application will generally be approved within one business day. However, this process can take longer. See Question 6 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
Deemed registration
See Question 9 of Information Sheet 276 Registration for relevant providers (INFO 276) and Flowchart: Deemed registration with ASIC for more information.
See Questions 9 and 18 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
Generally, no. See Questions 9 and 21 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
A relevant provider who was registered as a tax agent with the Tax Practitioners Board, or who is currently registered as a tax agent with the Tax Practitioners Board, was not deemed to be registered with ASIC under the transitional provisions in the Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Act 2021 (Better Advice Act). AFS licensees are required to register these relevant providers with ASIC.
Yes. See Question 18 of Information Sheet 276 Registration for relevant providers (INFO 276).
Bulk registration and confirming registrations on a large scale
Yes, up to 25 relevant providers can be registered in a single transaction. See Question 10 of Information Sheet 276 Registration for relevant providers (INFO 276).
Yes, ASIC expects that this information will be available in the first quarter of 2024.
As an interim measure while the dataset on data.gov.au is being updated, ASIC has temporarily made available a one-off, point-in-time dataset of relevant provider registration data. ASIC will publish updated datasets if required.
The AFS licensee can confirm which relevant providers are registered by confirming the relevant provider’s registration status on the Financial Advisers Register.
As an interim measure while the dataset on data.gov.au is being updated, ASIC has temporarily made available a one-off, point-in-time dataset of financial adviser registration data. AFS licensees will be able to filter this data to determine which advisers are /are not registered. ASIC will publish updated datasets if required.
No, relevant providers can confirm their registration status by reviewing their profile on the Financial Advisers Register.
No. However, this information will be available on the Financial Advisers Dataset on data.gov.au during the first quarter of 2024.
As an interim measure while the dataset on data.gov.au is being updated, ASIC has temporarily made available a one-off, point-in-time dataset of relevant provider registration data. ASIC will publish updated datasets if required.
Cessation of registrations
Yes. See Questions 18, 21 and 22 of Information Sheet 276 Registration for relevant providers (INFO 276).
No, the AFS licensee does not have to lodge a separate transaction to ‘de-register’ the relevant provider. See Question 18 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
Declarations generally
The registration application requires point-in-time declarations to be made. If the relevant provider remains authorised by the same AFS licensee, the AFS licensee is not required to make another registration application.
No, ASIC staff are unable to give advice to AFS licensees about which declarations to make. AFS licensees are required to consider the personal circumstances of each relevant provider they are applying to register and determine the relevant declarations. ASIC has provided guidance in Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) and encourages AFS licensees to obtain their own independent legal advice if they remain unsure.
See Questions 3, 4, 5, 6, 7 and 8 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
Experienced providers
See Questions 5 and 7 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
The declarations made by the AFS licensee must be true and accurate at the time of the declaration. If you have not received a declaration from the relevant provider under section 1684AA of the Corporations Act 2001, you should complete the declarations on the basis that the relevant provider is not an experienced provider.
See section 1684AA of the Corporations Act 2001 and Questions 5 and 7 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for further information. ASIC will provide further guidance on the experienced provider pathway in due course.
Fit and proper person declarations
Yes. See Question 4 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
Yes, each provider must provide a fit and proper declaration to their AFS licensee. For more information, see Question 13 of Information Sheet 276 Registration for relevant providers (INFO 276) and Question 1 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277).
There is no prescribed form. The form of the declaration is a matter for the relevant provider and their registering AFS licensee to determine. See Question 1 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
There is no requirement to collect a fit and proper declaration from a relevant provider who was deemed registered and remains authorised and registered under your AFS licence.
This is a matter for AFS licensees to determine. See Questions 1, 2 and 4 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
This is a matter for the AFS licensee to determine. See Questions 2 and 4 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
This is a matter for the AFS licensee to determine. See Questions 2 and 4 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
Yes. See Question 2 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277).
The relevant provider will only need to be registered again if their registration ceases. See Questions 18–22 of Information Sheet 276 Registration for relevant providers (INFO 276) for more information.
Education and training standard declarations
No, the declarations made by the AFS licensee must be true and accurate at the time of making the declaration. The AFS licensee can update the relevant provider’s details (including their education and training details) by lodging a maintain (update) transaction on ASIC Connect.
This will depend on the relevant provider’s individual circumstances. See Question 5 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
This will depend on the relevant provider’s personal circumstances. Relevant providers and AFS licensees can obtain more information about this topic on ASIC’s Professional standards and the Treasury website.
Declarations on the relevant provider’s ability to provide tax (financial) advice services
No, it doesn’t carry across.
If the relevant provider provides, or intends to provide, a tax (financial) advice service to retail clients, they must be a ‘qualified tax relevant provider’. See Information Sheet 268 Relevant providers who provide tax (financial) advice services (INFO 268) and Question 8 of Information Sheet 277 Registration of relevant providers: Guidance on making declarations (INFO 277) for more information.
ASIC Connect
No, you can either call the ASIC call centre on 1300 300 630 or lodge an online query with ASIC. The registration inquiries inbox is for registration-related support only.
Yes, a relevant provider’s registration status is recorded on the Financial Advisers Register.
If the AFS licensee updates these details as part of the registration transaction, this information is also updated on the Financial Advisers Register. There is no separate fee to update this information as part of the registration transaction.
The AFS licensee can update the relevant provider’s details by lodging a maintain (update) transaction on ASIC Connect.
This error message means that the relevant provider is already registered under the AFS licensee. This can occur for one of two reasons: (1) the relevant provider was deemed registered under the AFS licensee or (2) the AFS licence has already applied to register the relevant provider.
Yes, see our user guide on how to register relevant providers with ASIC. See also Question 10 of Information Sheet 276 Registration for relevant providers (INFO 276).
The AFS licensee’s notice of registration will be sent to the contact person previously nominated by the AFS licensee on the AFSL Portal. The AFS licensee can update the contact details for its contact person by submitting an FS20 Change of details for an Australian financial services licence on the AFSL Portal.
Yes it can.
A notice of registration will be issued once ASIC records on the Financial Advisers Register that the relevant provider is registered. Where the AFS licensee has selected payment via invoice, the registration transaction will continue to be processed and ASIC will issue the invoice separately.
Yes.