ASIC Corporations MDA Services Instrument 2016/968 Exempts MDA Providers
Summary
ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968 (F2026C00343) is a legislative instrument in force under the Corporations Act 2001, administered by the Department of the Treasury. The instrument provides exemptions for MDA providers, external MDA custodians, persons involved in acquiring MDA services, and contracted dealers, subject to specified conditions. Part 2 sets out conditions for exemptions covering client portfolio assets, securities offers, and family-member-only MDA services. Part 3 declares requirements for the provision of MDA services. Part 4 contains transitional arrangements and licensing exemptions for certain MDA providers. The latest version (F2026C00343) was registered on 27 March 2026.
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What changed
ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968 was made under the Corporations Act 2001 to exempt managed discretionary account (MDA) service providers from certain obligations, subject to conditions. Part 1 establishes preliminary provisions including definitions. Part 2 provides exemptions for MDA providers, external MDA custodians, persons involved in acquiring MDA services, and contracted dealers, with conditions covering client portfolio assets, securities offers, and family-member-only services. Part 3 declares requirements for MDA service provision. Part 4 addresses transitional arrangements and provides a licensing exemption for certain MDA providers.
Affected parties include MDA providers, external MDA custodians, financial advisers providing MDA services, and investors receiving MDA services. Providers must ensure they satisfy all conditions attached to their exemptions before relying on the instrument. The transitional provisions in Part 4 are particularly relevant for providers transitioning MDA services under the new framework. Compliance obligations flow from the instrument's conditions as well as the underlying Corporations Act provisions that the instrument modifies.
Archived snapshot
Apr 24, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
- Interactions
ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968
In force Administered by
- Department of the Treasury
This item is authorised by the following title:
- Corporations Act 2001 Latest version View as made version F2026C00343 C07 27 March 2026
View document Legislative instrument Filter active Table of contents
- Part 1—Preliminary
- 1 Name of legislative instrument
- 3 Authority
- 4 Definitions
- Part 2—Exemption
- 5 MDA providers and external MDA custodians
- 6 Persons involved in acquiring MDA services
- 7 Dealers contracted by MDA provider
- 8 Conditions
- 9 Issue of client portfolio assets
- 10 Conditions
- 11 Exemption – Securities offers
- 12 Conditions
- 13 Market participants who provide MDA services to family members only
- 14 Conditions
- Part 3—Declaration
- 15 Requirements for the provision of MDA services
- Part 4—Transitional
- 16 Arrangements for transitioning MDA services
- 17 Licensing exemption for certain MDA providers
- Endnotes
- Endnote 1—About the endnotes
- Endnote 2—Abbreviation key
- Endnote 3—Legislation history
- Endnote 4—Amendment history
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