ASIC flags changes to adviser register

Speaking at the SMSF Association National Conference in Sydney, Mr Kell said the financial adviser register had caused some confusion within the industry, with some advisers unclear what was required of them.

Despite this, Mr Kell said the register has so far been “incredibly popular”, and added that it had seen “hundreds and thousands of searches to the financial advice register since it was set up”.

Mr Kell also told conference delegates that further detail will be added to the register moving forward, and that this will make it even more important for advisers to stay across the details they provide to the register.

“There’ll be expansions to the information going on that register,” he said.

“So it’s very important that anyone operating in that area gets on the register to show they’re a participant in the system as well as because it’s required.”