Australia extends relief on appointing deposit and insurance distributors

The exemption has been extended until 27 August 2030.

The Australian Securities and Investments Commission (ASIC) has extended the exemption for Australian financial services (AFS) licenses on appointing a basic deposit or general insurance product distributor as their authorized representative.

The exemption has been extended until 27 August 2030.

ASIC previously granted the relief to reduce the regulatory burden on deposit products and general insurance providers, it said in an online statement on 10 September 2025.

This, in turn, is expected to promote the wide availability of basic deposit and general insurance products to consumers by reducing the compliance costs to providers.

ASIC said that it has assessed that the instrument is “generally operating effectively and efficiently and continues to form a necessary and useful part of the legislative framework.”