ASIC news article – ‘ASIC urges immediate action from financial advisers as deadline approaches’ [SEC=OFFICIAL]
Hi, as we all know the 1/1/26 ‘Education Cliff’ is fast approaching, see below note from our expert Lionel Rodrigues with the accompanying ASIC notices.
Unfortunately the SHIELD/FIRST GUARDIAN fiasco has put our Profession back many years with Canberra and Consumers generally, consequently we may not get much sympathy from the ALP Cabinet with short term concessions.
We are currently investigating the possibility of running an intensive Ethics program in conjunction with a University over a number of days [instead of the current 12 week process] to get it done before December 31st.
If you are in this position and wanting to be involved please send an email, we need to know numbers to convince the University to cooperate. Please send this email onto non members for their attention.
Regards.
From: Lionel Rodrigues <lionel@ifmsecurities.com.au>
Sent: Friday, October 3, 2025 10:49 AM
To: Peter Johnston <pjohnston@aiofp.net.au>
Subject: FW: ASIC news article – ‘ASIC urges immediate action from financial advisers as deadline approaches’ [SEC=OFFICIAL]
Greetings Peter,
Similar to all other AFSL Licensees, I have received this reminder from ASIC as to the education/qualifications needed by relevant providers to meet the 1 January 2026 deadline.
The attached link provided by ASIC details that, amongst other things, there are 3459 advisers who are yet to meet the qualifications standard. There is significant anecdotal evidence which suggests that many of these advisers have not completed the tertiary education requirement for Ethics.
The representations made to government by AIOFP have resulted in the government reaffirming its position that no exemption will be available to those who do not meet the tertiary education standard for the completion of a formal accredited course in Ethics.
At the moment, AIOFP is exploring an intensive university accredited course in Ethics, which may be beneficial to members. As the deadline for completion of such a course draws nearer, it may be opportune to assess if such a formal intensive university program would be of interest to the AIOFP base.
Lionel
From: Julie Fewster <Julie.Fewster@asic.gov.au>
Sent: Tuesday, 30 September 2025 12:00 PM
To: Lionel Rodrigues <lionel@ifmsecurities.com.au>
Cc: Julie Fewster <Julie.Fewster@asic.gov.au>
Subject: ASIC news article – ‘ASIC urges immediate action from financial advisers as deadline approaches’ [SEC=OFFICIAL]Hi Lionel,
I am emailing to bring to your attention a news article we have just published, which amongst other things provides an update on the numbers of relevant providers yet to meet the qualifications standard. The article is calling on relevant providers to check their information and if updates are required to contact their licensee to make sure the updates are made.
Any assistance the association can provide in circulating this message to the AOIFP members would be greatly appreciated.
Regards
Julie
ASIC urges immediate action from financial advisers as deadline approaches | ASIC
Julie Fewster
Senior Manager, Financial Advice and Investment Management
Regulation and SupervisionAustralian Securities and Investments Commission
Level 1, 11 Mounts Bay Road, Perth, 6000
Mobile: +61 0423 847 416
julie.fewster@asic.gov.au
Regards.
Peter Johnston | Executive Director
Association of Independently Owned Financial Professionals
Suite 416, 480 Collins Street, Melbourne VIC 3000
P 1800 111 203, d 03 9863 7574, m 0418 857 621
www.aiofp.net.au | Download my business card
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