ASIC Corporations (Amendment) Instrument 2018/40 has amended ASIC Corporations (Generic Calculators) Instrument 2016/207 to defer the commencement of the requirement for a generic financial calculator relating to superannuation and retirement to include the present value of future receipts and payments using an assumed rate of inflation of 3.2% until 5 December 2019.
ASIC Corporations (Generic Calculators) Instrument 2016/207 provides relief for providers of generic financial calculators from the requirement to hold an 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.
