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ARTICLE · 03 SEPTEMBER 2025

ASIC proposes significant changes to RG 181: What AFSL holders need to know

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ASIC is proposing to significantly expand its guidance on managing conflicts of interest requiring AFSL holders to review & update their policies.

AustraliaFinance and Banking
Andrew Stone
Andrew Stone
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The Australian Securities and Investments Commission (ASIC) is proposing significant updates to Regulatory Guide 181: Managing Conflicts of Interest (RG 181), which sets out the regulator's general approach to compliance with the statutory conflicts management obligation under section 921A(1)(aa) of the Corporations Act (921A obligation) and how Australian Financial Services Licence (AFSL) holders can control, avoid and disclose conflicts of interest.

The proposed changes would substantially broaden ASIC's approach to the scope of these obligations, requiring AFSL holders to carefully review and potentially update their policies relating to the management of conflicts.

ASIC has, through releasing Consultation Paper 385 (CP 385) in July, invited industry feedback on the proposed changes, with consultation closing on 5 September 2025.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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