Covid-19 relief extended by ASIC December 28, 2021

On 14 October 2021, ASIC announced an extension to the temporary relief measures that were introduced in April 2020, during the Covid-19 pandemic, allowing advisers to provide retail clients with affordable and timely advice.

The extension until 15 April 2022, allows the Record of Advice Relief Measure, whereby advisers are able to provide existing clients with a Record of Advice, rather than a Statement of Advice, where the client requires advice as a result of impact from the pandemic.

Further, ASIC has also re-introduced the relief measure that originally ended on 15 April 2021, whereby financial advisers have additional time to provide clients with a statement of advice, in instances where time critical advice is provided.

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