ASIC issues COVID-19 relief Record of Advice example

AFA News 29 July 2021. On 14 July 2021, ASIC issued a Record of Advice example to assist advisers in the delivery of a Record of Advice that is leveraging the COVID-19 Relief that permits an RoA to be used where the client’s personal circumstances have changed significantly as a result of COVID-19.

The COVID-19 relief was extended on 15 April 2021 for a further 6 months to October 2021, however, given the latest lockdowns around the country, it is possible that it could be extended again.  We are conscious that there has been some level of hesitancy to utilize the COVID 19 RoA relief measures, including concerns that it may not comply with the expectations of the FASEA Code.  ASIC has advised that FASEA have confirmed that they believe that the ROA example is consistent with the adviser’s obligations under the FASEA Code of Ethics.  We hope that the availability of this example and the statement from FASEA will help to provide greater confidence to use an RoA in such cases.

Please click here to see a copy of the ASIC COVID-19 Record of Advice example.

For any feedback on the ROA Example or COVID-19 Relief, please email

Issued 29.07.2021. AFA Policy & Education Update