Chartered Accountants Australia and New Zealand and CPA Australia are jointly updating the guide Financial Advice and Regulations: Guidance for the accounting profession.

This guide helps members understand:

• what financial services you can and cannot offer without an Australian Financial Services (AFS) licence (i.e. you are unlicensed).
• that’s required when operating under a limited AFS licence.

The update reflects the current requirements of the Corporations Act 2001 and Corporations Regulations 2001,  changes to superannuation, as well as  amendments to ASIC’s Information Sheet 216.

We anticipate the updated guide will be published in the first quarter of 2026.

Understanding AFS licence requirements

Accountants must clearly understand which services require an AFS licence and which are exempt. This follows the removal of the exemption on 1 July 2016 that previously allowed accountants to advise on acquiring or disposing of interests in self-managed superannuation funds (SMSFs) without a licence.

ASIC released Information Sheet 216 outlines:

• how the AFS licensing regime applies to SMSF services offered by accountants.
• when licensing exemptions apply.
• when an AFS licence is required.

Disclaimer

The content on this website is provided for general information purposes and may not take into account detail that could be significant in your particular context. The website and its content is not a substitute for reading and understanding (as applicable) the Chartered Accountants ANZ’s Member Handbook, constitutional documents, legislation, regulations, professional guidelines or other applicable laws, or where necessary, obtaining specific advice regarding a specific issue.