ASIC update several Information Sheets, Regulatory Guides and Instruments

The Australian Securities and Investments Commission (ASIC) has recently undertaken a significant update of several of its key regulatory documents, including Information Sheets, Regulatory Guides, and various Instruments.

The updates stem from two primary drivers: the ongoing reforms impacting financial advisers and the necessary remaking of expiring relief provisions. This comprehensive overhaul underscores ASIC’s commitment to maintaining a robust and current regulatory framework that adapts to evolving industry landscapes and addresses emerging risks.

To reflect the financial adviser reforms, ASIC reissued the following Information Sheets: INFO 88, INFO 91, INFO 250, INFO 260, INFO 268, INFO 270, INFO 273, INFO 276, INFO 277, and INFO 281.

The reissuance of these documents is critical for ensuring that financial advisers and related entities have access to the most up-to-date guidance. Also to understand their obligations under the revised regulatory environment. This impacts various aspects of their operations, from client engagement to compliance reporting. It is essential for all AFS licensees, particularly those in the advice sector, to meticulously review these updated materials. Consequently, advice, representative, and onboarding policies and procedures within affected organisations will need to be thoroughly reviewed and potentially revised to align with the new requirements.

Expiring Relief (remade):

Beyond the financial adviser reforms, ASIC has also diligently addressed expiring relief provisions by remaking crucial Instruments.

  • 31-day Term Deposits: Relief from [CO 14/1262] extended via Instruments 2025/172 and 2025/182.
  • CHESS Depository Interests: Relief from [CO 14/827] extended via Instruments 2025/180 and 2025/181, and reissued RG 253.
  • Employee Incentive Schemes: Relief from [CO 14/978], [CO 14/1000], and [CO 14/1001] remade via Instrument 2025/169 and 2025/170. Read more here.

These actions ensure continuity and clarity for market participants relying on these specific exemptions.

All AFS licensees should review the updated guides and info sheets relevant to their business, predominantly those in the advice sector.

Policies affected: Advice, representative and onboarding policies and procedures

Organisations affected:  AFSL holders

ASICs continued focus on cyber security

ASIC continues to place a strong emphasis on cybersecurity, reinforcing its stance through recent enforcement actions and ongoing regulatory guidance. The commission is actively prioritising and enforcing the implementation of adequate cybersecurity measures for all licensees. This serves as a firm reminder of their legal obligations to maintain robust risk management frameworks. ASIC has specifically highlighted ISO/IEC 27001:2022 as a key benchmark for cybersecurity excellence. Licensees are now explicitly expected to identify and protect their critical assets, establish effective incident response systems, diligently manage third-party risks, plan for operational resilience, and foster a strong culture of cyber awareness within their organisations.

This renewed focus necessitates that all AFSL holders review and align their cybersecurity and IT-related policies. They should also broaden their Risk Management Frameworks, with the principles and benchmarks outlined in ISO 27001:2022. Regular reviews of their cybersecurity posture are also strongly advised to ensure ongoing compliance and protection against evolving cyber threats. Read more here.

Policies affected: Cybersecurity and IT related policies, Risk Management Frameworks

Organisations affected:  AFSL holders

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