ASIC Reviews Financial Adviser Qualification Records

The regulator is auditing qualification data to ensure all financial advisers meet mandatory national standards.

Updated on Oct. 30, 2026 in Financial Planning

Isometric editorial illustration of brass regulatory seals and metal plates, representing the rigorous verification of professional financial adviser standards. — The Australian Securities and Investments Commission has launched an audit of adviser qualification records to verify compliance with national professional standards. AI Illustration. Upload story photo >

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Should financial regulators strictly enforce professional qualification standards for all registered advisors?

The Australian Securities and Investments Commission has initiated a targeted review of financial adviser qualification records within the Financial Advisers Register. This programme aims to ensure that professional credentials align with the mandatory qualification standard.

Why it matters

Ensuring the accuracy of the register is critical to maintaining professional standards for all advisers providing retail personal advice. The audit seeks to address ongoing discrepancies in how courses and designations are recorded by licensees.

A prior ASIC review of register records identified 132 advisers with no listed qualifications, leading to 106 record updates and 26 cessations of advice authorisation. As of September 2025, 3,459 advisers had yet to meet the mandatory qualification standard.

The players

Australian Securities and Investments Commission

The Australian Securities and Investments Commission is the independent government body that acts as Australia's corporate regulator.

The details

ASIC is testing a sample of licensee-recorded courses to verify compliance with established standards. Licensees are specifically required to confirm that the FASEA exam or bridging courses are not incorrectly marked as approved qualifications.

2024: ASIC launched a compliance programme for register accuracy.
September 2025: 3,459 advisers had not yet met the standard.
1 January 2026: Qualification standard became mandatory for all relevant advisers.
February 2026: ASIC began an earlier review of adviser records.
24 October 2026: ASIC announced the current targeted qualification review.

Market Dynamics

The current review serves as a compliance verification effort following the full implementation of the mandatory financial adviser qualification standard. This oversight reflects a broader regulatory shift toward ensuring uniform professional competency across the national advice sector.

Retail clients can check the status of their financial adviser on the Financial Advisers Register to confirm they meet the required qualification standards. This transparency helps ensure investors receive advice from professionals who adhere to the latest regulatory benchmarks.

The takeaway

Clients should verify their adviser's credentials to ensure they align with the current national requirements. Maintaining this oversight provides greater confidence in the professional quality of retail financial advice across Australia.