On 10 October, ASIC released a new legislative instrument, ASIC Corporations (Professional Standards—Transitional) Instrument 2018/894, relating to the professional standards reforms for financial advisers.

ASIC states that the new instrument makes:

  • changes to the reporting dates for a number of disclosure obligations in the transition to the new financial adviser professional standards reforms; and
  • minor technical amendments to address unintended consequences to ensure that the new education and training standards apply in a consistent way to individuals at the intended time.