Australia’s securities regulator has proposed a six-month extension of existing relief for foreign financial services providers as it prepares for a new statutory regime to begin on 8 April 2027.
ASIC’s consultation, released on 6 November, would keep the current “sufficient equivalence” and “limited connection” relief in place until 1 October 2027. Firms using those arrangements would then need to move into the new exemptions or seek an Australian financial services licence. ASIC also proposes guidance on eligibility, conditions and notification duties, including the obligation to report significant overseas enforcement action.
A separate class-relief proposal addresses global operating models in which staff in Australia support services principally provided and supervised offshore. The relief would be limited to foreign providers with a related Australian licensee, offshore products supplied to institutional investors, and activities conducted efficiently, honestly and fairly. ASIC proposes a five-year sunset.
The incoming regime creates exemptions for certain services delivered from outside Australia to professional investors, providers overseen by comparable regulators, and market makers in prescribed derivatives. Submissions close at 5pm AEDT on 4 December 2026. Read ASIC’s consultation and draft materials.
