CS 34 Proposed remake of generic financial calculators instrument

Released 3 November 2025. Comments close 1 December 2025.

ASIC is seeking feedback on its proposal to remake ASIC Corporations (Generic Calculators) Instrument 2016/207 (ASIC Instrument 2016/207). The instrument is scheduled to sunset on 1 April 2026.

The instrument gives relief to providers of generic financial calculators from certain licensing requirements in the Corporations Act 2001 (Corporations Act).

We have assessed that the instrument is operating effectively and efficiently and continues to form a necessary and useful part of the legislative framework.

Proposed amendments

We propose to simplify section 5(2) of the instrument to make it more consistent with the provisions of the reportable situations regime (see section 7(2) of the draft instrument). We also propose to simplify the instrument with other minor amendments: See the draft updated instrument in Related information below.

Providing feedback

Please send your feedback to rri.consultation@asic.gov.au by 5 pm AEDT on Monday 1 December 2025.

You may choose to remain anonymous or use an alias when providing feedback. However, if you do remain anonymous, we will not be able to contact you to discuss your feedback should we need to.

We will not treat your feedback as confidential unless you specifically request that we treat the whole or part of it (such as any personal or financial information) as confidential. Please see our privacy policy for more information on how we handle personal information, your rights to seek access to and correct personal information, and your right to complain about breaches of privacy by ASIC.

Background

ASIC Instrument 2016/207 gives relief to providers of generic financial calculators from the requirement to hold an Australian financial services licence with an advice authorisation or, where they currently hold a licence, relief from the conduct and disclosure requirements in Divisions 2, 3 and 4 of Part 7.7 of the Corporations Act in relation to that advice.

Under the Legislation Act 2003, all legislative instruments are automatically repealed or ‘sunset’ after 10 years, unless ASIC takes action to preserve them.

Generic financial calculators can be a useful and accessible consumer tool to assist consumers to better understand their own financial situation or financial products they are considering. A generic financial calculator is used to make a general numerical calculation about a financial product that is not a superannuation product, without advertising or promoting a specific financial product.