ASIC is seeking feedback on proposals to support the transition to the new foreign financial services provider (FFSP) regime, which starts on 8 April 2027. 

ASIC proposes to extend existing transitional relief for FFSPs by six months, provide conditional class relief under the new professional investor exemption, and publish regulatory guidance. 

ASIC is also explaining how providers can notify ASIC of the exemptions they intend to rely on under the new regime. 

The proposals aim to give industry regulatory certainty and support a smooth transition to the new regime. 

The Government’s new FFSP regime aims to improve Australian professional and wholesale investors’ access to global markets by exempting certain providers from the requirement to hold an Australian Financial Services (AFS) licence. 

The proposed guidance explains the new regime, its statutory exemptions, eligibility criteria and conditions. 

ASIC also proposes conditional class relief for eligible FFSPs whose global operating models may fall outside the new professional investor exemption. Subject to conditions, the relief would allow individuals in Australia to support financial services principally provided offshore by an FFSP to Australian institutional investors. 

Providing feedback 

Feedback should be sent to rri.consultation@asic.gov.au by 5pm AEST on 4 December 2026. 

Refer to CS 68 Proposed guidance and relief for foreign financial services providers for further detail. 

Background 

The new FFSP regime and notification process 

The new regime, under Schedule 2 of the Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Act 2026 provides licensing exemptions for FFSPs that: 

• provide financial services from outside Australia to professional investors (professional investor exemption), or  
• are regulated by comparable regulators and provide services to wholesale clients (comparable regulator exemption), or 
• make a market for certain derivatives traded on a prescribed licensed market (market maker exemption). 

FFSPs must notify ASIC if they intend to rely on any statutory exemption and must comply with its conditions. 

The infographic explains how FFSPs can notify ASIC and prepare for the new licensing exemptions. 

ASIC will publish more information about the notification process on its website before the new regime starts. 

Extension of FFSP transitional relief 

ASIC proposes to extend transitional relief for certain FFSPs by six months, until 1 October 2027. Subject to conditions, this would allow them to continue providing financial services to Australian wholesale clients without an Australian financial services (AFS) licence. 

The proposed extension would support an orderly transition to the new FFSP regime. FFSPs relying on the current relief will need to transition to the new regime or apply for an AFS licence, as appropriate. 

Conditional institutional investor class relief 

The proposed conditional class relief would be limited to FFSPs with a related AFS licensee and cover financial services provided mainly offshore to institutional investors. FFSPs relying on the relief would need to ensure activities in Australia are carried out efficiently, honestly and fairly. 

The relief aims to give FFSPs with integrated global operating models greater certainty without undermining the AFS licensing regime. ASIC is seeking feedback on the relief’s proposed scope, conditions and practical operation.  

 

ASIC is Australia’s corporate, markets and financial services regulator.