ASIC has existing power under the Corporations Act to approve codes of conduct, with Regulatory Guide 183 Approval of financial services sector codes of conduct (RG 183) setting out ASIC’s minimum expectations in this area. Consultation Paper 191 Future of Financial Advice: Approval of codes of conduct for exemption from opt-in requirement (CP 191) seeks feedback on how RG 183 should be amended for FOFA. It is relevant to advisers and industry representatives who are considering submitting either a new or existing code for approval. CP 191 covers matter such as: (i) appropriate content of a code submitted for approval, including methods to obviate the need for opt-in; (ii) administration, governance, monitoring and enforcement of codes, and (iii) ASIC’s approval and relief process.