The Australian Securities and Investments Commission (ASIC) made it clear that Australian financial service providers and brokers offering Foreign Currency Exchange (FX) and Contracts for Differences (CFDs), and giving personal financial advice to retail clients, must complete their qualifications by no later than January 1, 2026. Failure to comply will have implications not only for the advisers physically located in Australia but also for many global companies that have financial regulatory authority in Australia.
In a public notice issued on December 1, 2025, ASIC told all advisers in its financial services sector who offer personal financial advice to retail clients to verify that their training/education is recorded with ASIC as completed before December 31, 2025.
On November 20, 2025, according to ASIC records, there was a total of 15,469 advisers in Australia; of those 15,469, there were 7,959 advisers with training completed, 4,212 advisers on the "experiential provider" route, and finally, 2,326 advisers who had not yet completed their qualifications as set forth by ASIC.
Once December 31, 2025, has arrived, advisers holding "non-qualified adviser" status will cease providing personal advice to retail clients unless they complete a one-year professional learning course and maintain an approved university degree.
Why this is important
Many advisers who provide personal financial advice to their retail clients utilise FX and CFD products. The added regulatory pressure on many advisers (and the brokers they work with) related to the above-noted qualification compliance may result in some advisers (and associated brokers) suspending or modifying their provision of personal financial advice. It may also necessitate an updated approach by brokers to their clients and to how they service them when providing personal financial advice.
WikiLix insight
This recent development underscores the significant need for global brokers servicing clients in Australia through Australian-regulated entities not only to monitor compliance with leverage and licensing requirements, but also to ensure compliance with adviser qualification standards. The urgent deadline at the end of the year marks a critical inflexion point for brokers conducting business in the country. It will require them to be aware that any lapses may adversely affect their ability to deliver personal financial advice and market their services effectively.
Traders and their business partners should understand that there is increasing scrutiny, regulatory oversight, and compliance surrounding FX and CFD markets that extends beyond product rules to include advisers' qualification credentials. This increased scrutiny is likely to reach other jurisdictions as well.
