The Australian Securities and Investments Commission (ASIC) has introduced a legislative instrument related to professional standards reforms for financial advisers.

The instrument makes changes to reporting dates for several disclosure obligations in the transition to the new financial adviser professional standards reforms.

It also makes minor technical amendments addressing unintended consequences, to ensure the new standards apply consistently to individuals.

In August ASIC announced a revised schedule to simplify licensees’ disclosure obligations and allow the regulator to implement required systems changes more effectively.

For more information on the legislative instrument, click here.