The Australian Securities & Investments Commission has released updated guidance on industry codes of conduct for the financial services and credit sectors, updating Regulatory Guide 183 to reflect legislative reforms since it was last revised in 2013 and to clarify ASIC’s role and approach to code approval. The revised guide sets out ASIC’s criteria and process for obtaining and retaining ASIC approval, and aims to simplify and streamline the existing guidance. ASIC reiterated that developing a code is not mandatory and that codes do not require ASIC approval, but that approval serves as a signal that consumers can have confidence in and rely on the code. The updates follow stakeholder consultation through Consultation Statement 26, with ASIC noting broad support and publishing non-confidential submissions alongside a summary of feedback and its response.
Australian Securities & Investments Commission 2025-12-02
Australian Securities & Investments Commission updates guidance on industry codes of conduct and ASIC code approval processes
The Australian Securities & Investments Commission (ASIC) has updated Regulatory Guide 183 on industry codes of conduct for the financial services and credit sectors, reflecting legislative reforms since 2013. The revised guide clarifies ASIC’s criteria and process for code approval, emphasizing that while code development is not mandatory, ASIC approval signals consumer confidence. The updates follow stakeholder consultation, with broad support.