The Australian Securities & Investments Commission has updated its regulatory guidance on managing conflicts of interest for Australian financial services (AFS) licensees, issuing a revised Regulatory Guide 181 to support compliance with the licensing obligation to have adequate arrangements to manage conflicts. The revised guide aligns ASIC’s expectations with developments in law and policy and incorporates regulatory experience, including insights from private markets surveillance. It clarifies how the law applies to conflicts of interest, including the scope of the conflicts management obligation and links to related obligations, sets out the types of conflicts licensees should identify and manage, emphasises the need for robust and tailored arrangements, provides practical steps for effective conflict management, and includes a non-exhaustive catalogue of related legal obligations and information. The updated RG 181 replaces guidance issued in August 2004 and forms part of ASIC’s regulatory maintenance and simplification agenda. The update follows a public consultation held between 30 July and 5 September 2025, which generated 26 submissions and broad support for simplifying and updating the guidance. ASIC has published a summary of its responses to key feedback and made available 22 non-confidential submissions.
Australian Securities & Investments Commission 2025-12-16
Australian Securities & Investments Commission updates conflicts of interest guidance for AFS licensees in revised Regulatory Guide 181
ASIC has revised Regulatory Guide 181 to improve conflict of interest management for Australian financial services licensees. The updated guidance aligns with legal developments, incorporates regulatory insights, and offers practical conflict management steps. Replacing the 2004 guidance, it follows public consultation and supports ASIC's regulatory maintenance agenda.