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.