The Australian Securities and Investments Commission has opened consultation on proposed changes to its relief for managed discretionary account (MDA) services, with ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968 set to expire on 1 October 2026. ASIC is seeking feedback on whether the instrument should be extended and, if remade, whether the policy settings and terms of the relief should be substantively changed and or simplified. The instrument provides conditional relief from the managed investments provisions in Chapter 5C and the product disclosure provisions in Chapter 6D and Part 7.9 of the Corporations Act 2001 for MDA providers and external MDA custodians. It also modifies financial services disclosure provisions in Chapter 7.7 to provide conditional relief related to statements of advice and financial services guides for MDA services. Submissions are due by 5 pm (AEST) on Tuesday, 28 April 2026.
Australian Securities & Investments Commission 2026-03-23
Australian Securities and Investments Commission consults on extending and updating managed discretionary account relief
The Australian Securities and Investments Commission (ASIC) is consulting on potential changes to the ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968, which expires on 1 October 2026. ASIC seeks feedback on extending the instrument and revising its policy settings and terms. The instrument currently offers conditional relief from certain provisions of the Corporations Act 2001 for MDA providers and custodians.