Financial advisers must join the Australian Securities and Investments Commission’s (ASIC) existing provider register this year to avoid the Financial Adviser Standards and Ethics Authority exam, the regulator says.

Advisers listed between January 1 2016 and next January 1 will have until January 1 2021 to sit the exam, and January 2024 to complete an approved qualification.

ASIC has also announced changes to reporting dates for some required notifications.

The changes will simplify advice businesses’ notification obligations, it says.

Licensees now have to notify the regulator of new advisers joining the industry from November 15.