ASIC has issued new and updated regulatory guidance in response to reforms under the Treasury Laws Amendments (Delivering Better Financial Outcomes and Other Measures) Act 2024. Background.
The new information sheets are:
- Information Sheet 286 FAQs: Ongoing fee arrangements and consents (INFO 286), which answers frequently asked questions (FAQs) for financial advisers who must get a client’s written consent to enter into or renew an ongoing fee arrangement,
- Information Sheet 287 FAQs: Non-ongoing fee requests or consents (INFO 287), which answers FAQs for financial advisers who must get a client’s written request or consent to charge non-ongoing fees to client superannuation accounts,
- INFO 291 FAQs: FSGs and website disclosure information (INFO 291), which answers FAQs about obligations relating to Financial Services Guides (FSGs) and website disclosure information, and
- INFO 292 FAQs: Informed consents for insurance commissions (INFO 292), which answers FAQs about the obligation to obtain informed consent before receiving certain insurance commissions to avoid them being conflicted remuneration.
ASIC will issue further guidance once the second tranche of the Government’s Delivering Better Financial Outcomes package is legislated.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
