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Future of financial advice



What's new

  • ASIC Update on FOFA

    The Assistant Treasurer, Senator the Hon. Arthur Sinodinos, today announced proposed amendments to the Future of Financial Advice (FOFA) legislation. 13-355MR. 20 December 2013

  • Information sheet about applying for a limited AFS licence
  • We have released an information sheet to assist those intending to apply for a limited Australian financial services licence. 13-140MR. 14 June 2013

  • FOFA workshops webcast

    The webcast of roadshows ASIC experts presented ahead of the mandatory application of the legislation on 1 July 2013 is now available.

More what's new


Overview of FOFA reforms

Commencement of FOFA reforms

ASIC's facilitative approach to the new regime

Further background to FOFA reforms

ASIC consultation and guidance on specific FOFA topics including:
  • ASIC powers
  • Conflicted remuneration
  • Best interests duty
  • Scaled advice
  • Fees disclosure
  • Codes approval
  • Replacement of accountants’ exemption with a new limited Australian financial services licence
  • Restriction on use of the terms 'financial adviser' and 'financial planner'.
Releases ASIC has issued on FOFA


Need to know more?


Sign up to receive email updates from ASIC about Future of Financial Advice developments.

ASIC has produced regulatory guidance to help industry and other stakeholders understand the new FOFA requirements and how they can comply with them. If after reading our regulatory guidance you still have general questions about the FOFA obligations or ASIC's implementation plans, you can email the FOFA team.

Please note that ASIC cannot provide legal advice. If you have questions about how FOFA applies to your specific business or circumstances we will have to recommend that you obtain your own legal advice.

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