CS 18 Proposed remake of financial advice-related legislative instruments

CS 18 Proposed remake of financial advice-related legislative instruments

Released 15 May 2025. Comments close 12 June 2025.

ob体育 proposes to remake for a further five years the following legislative instruments relating to licensing and disclosure relief for particular forms of general advice and dealing that are scheduled to sunset on 1 October 2025:

, and
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We have assessed that these legislative instruments are operating effectively and continue to form a necessary and useful part of the legislative framework. However, we propose to remake the instruments by combining the three legislative instruments into one instrument and making some minor and technical changes.

Providing feedback

We invite feedback on our proposal. You should send your submission to聽[email protected]听产测 5 pm AEST on Thursday 12 June 2025.

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Background

exempts financial product issuers from the requirement to hold an Australian financial services (AFS) licence for general advice in an advertisement for their product, provided the advertisement states that a person should consider whether or not the product is appropriate for them. It also exempts AFS licensees from the requirement to give a Financial Services Guide (FSG) and a general advice warning in relation to general advice in an advertisement about an offer or intended offer of their securities if the advertisement includes a statement to that effect.

exempts an AFS licensee and its authorised representative from the requirement to give a general advice warning for oral general advice if, at the time of providing the advice, the advice provider verbally warns the client that the advice is general advice and may not be appropriate for the client. ob体育 Instrument 2015/540 also makes minor modifications to section 949A(4) of the Corporations Act 2001 (Corporations Act).

exempts an AFS licensee and their authorised representatives acting in the capacity as an expert from the requirement to give an FSG when they provide general advice in an expert's report and this is included in a disclosure document prepared by or on behalf of another person. ob体育 Instrument 2015/541 also exempts arrangers from the requirement to give an FSG when they provide a financial service consisting of arranging for the issue of a financial product under an intermediary authorisation. It also modifies section 941C(5A)(a) of the Corporations Act to clarify that AFS licensees and authorised representatives may make available website disclosure information for dealing in a financial product for the purpose of implementing financial product advice they provide to a client.

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