Australian
FX and CFD brokers holding Australian Financial Services (AFS) licenses are
under renewed pressure from the Australian Securities and Investments
Commission (ASIC) to ensure all information on the Financial Advisers Register
(FAR) is accurate and up to date, as the regulator intensifies its oversight
ahead of the January 2026 qualifications deadline.

ASIC Presses FX/CFD
Brokers on Adviser Register Accuracy Ahead of 2026 Deadline

ASIC’s
latest review of the Financial Advisers Register revealed persistent
inaccuracies in the way AFS licensees report adviser qualifications,
particularly concerning the eligibility of advisers using the experienced
provider pathway and the completion status of required courses.

These
findings come as the sector approaches a critical compliance milestone: from
January 1, 2026, all relevant providers must meet the prescribed qualifications
standard to continue offering personal advice to retail clients.

As of May
28, 2025, ASIC data shows that out of 15,610 relevant providers, 6,426 have an
approved degree or qualification, and 4,580 rely on the experienced provider
pathway. However, 4,604 advisers have yet to meet the qualifications standard,
with 1,844 potentially eligible for the experienced provider pathway but not
yet formally notified to ASIC by their licensees.

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What Is the Financial
Advisers Register (FAR)?

FAR is an
official, public database maintained by the ASIC . It lists all individuals, known
as “relevant providers”, who are authorized to provide personal financial
advice to retail clients on investments, superannuation, and life insurance in
Australia, including FX and CFD brokers.

The
register is published on the Moneysmart website and is designed to help
consumers, employers, and regulators verify the credentials and status of
financial advisers.

Employers
and industry participants use the FAR to verify the credentials of advisers
they may wish to hire or partner with, ensuring only qualified individuals are authorized
to give advice.

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FX/CFD Brokers Must Act

For FX and
CFD brokers, the implications are clear. Any errors or delays in updating
adviser details, including qualifications, authorisation history, and
eligibility for tax (financial) advice services, could result in compliance
breaches.

ASIC has
warned that knowingly submitting false or misleading information, or failing to
update records within 30 business days of a change, constitutes a serious
offence.

AFS
licensees are reminded to verify the eligibility of advisers claiming the
experienced provider pathway, which is available to those with at least 10
years’ cumulative experience as a relevant provider between January 2007 and
December 2021, a clean disciplinary record, and who have passed the financial
adviser exam by the required dates.

The
regulator has also provided a temporary dataset to assist licensees in checking
advisers’ capacity to provide tax (financial) advice services and their
qualification status. Any discrepancies must be corrected promptly through
ASIC’s online system.

New Compliance Program in
2026

From
January 2026, ASIC will launch a compliance program relying on the Financial
Advisers Register to assess whether advisers remain authorized. Brokers are
advised to focus reviews on qualifications, authorization history, and contact
details, ensuring that only approved courses and completed qualifications are
marked as meeting the standard.

Failure to
comply with these requirements could expose FX and CFD brokers to regulatory
action, including penalties for authorizing advisers who are not properly
registered or qualified.

In February, ASIC proposed easing certain mandatory reporting obligations for regulated entities, including domestic brokers that offer CFDs.