The Australian Securities & Investments Commission has remade the relief that exempts providers of generic financial calculators from certain licensing requirements under the Corporations Act 2001, maintaining the existing approach until 1 April 2031. The new instrument replaces the sunsetting 2016 relief and follows ASIC’s assessment that the settings are operating effectively and efficiently. The instrument provides relief from the requirement to hold an Australian financial services licence with an advice authorisation for providers of generic financial calculators. Where a provider holds an Australian financial services licence, the instrument instead relieves them from the conduct and disclosure requirements in Divisions 2, 3 and 4 of Part 7.7 of the Corporations Act. Generic financial calculators are described as tools that make a general numerical calculation about a financial product that is not a superannuation product, without advertising or promoting a specific product. ASIC consulted on the remake through CS 34 and will make minor amendments to Regulatory Guide 167, Regulatory Guide 276 and Information Sheet 248 in April 2026.
Australian Securities & Investments Commission 2026-03-26
Australian Securities & Investments Commission remakes relief for generic financial calculators and extends it to 1 April 2031
The Australian Securities & Investments Commission has extended the relief exempting providers of generic financial calculators from certain licensing requirements under the Corporations Act 2001 until 1 April 2031. This new instrument replaces the expiring 2016 relief, maintaining the current approach deemed effective by ASIC. It provides relief from holding an Australian financial services licence with advice authorisation and from conduct and disclosure requirements for licensed providers.