ASIC is inviting feedback on its proposal to remake ASIC Corporations (Generic Calculators) Instrument 2016/207 which gives relief to providers of generic financial calculators from certain licensing requirements in the Corporations Act. The legislative instrument is scheduled to sunset on 1 April 2026.

We consider the instrument to be operating effectively and efficiently. The instrument continues to form a necessary and useful part of the legislative framework.

We propose to amend subsection 5(2) to make it simpler and more consistent with the provisions of the reportable situations regime (see subsection 7(2) of the draft instrument). We also propose to simplify the instrument with minor amendments.

A draft instrument is available at CS 34 Proposed remake of generic financial calculators instrument.

Providing feedback

Please send your feedback by 5pm AEDT on 1 December 2025 to rri.consultation@asic.gov.au.

Refer to CS 34 Proposed remake of generic financial calculators instrument.

Background

ASIC Instrument 2016/207 gives relief to providers of generic financial calculators from the requirement to hold an Australian financial services (AFS) licence with an advice authorisation or, where they currently hold a licence, relief from the conduct and disclosure requirements in Divisions 2, 3 and 4 of Part 7.7 of the Corporations Act in relation to that advice.

Under the Legislation Act 2003, all legislative instruments are automatically repealed, or ‘sunset’, after 10 years, unless ASIC takes action to preserve them.’

Generic financial calculators can be a useful and accessible consumer tool to assist consumers to better understand their own financial situation or financial products they are considering. A generic financial calculator is used to make a general numerical calculation about a financial product that is not a superannuation product, without advertising or promoting a specific financial product.