CP 254 Regulating digital financial product advice
Released 21 March 2016. Comments due 16 May 2016
This consultation paper sets out ob体育鈥檚 proposed approach to the regulation of digital financial advice in Australia.
We are seeking the views of Australian financial services (AFS) licensees and their representatives who provide financial product advice to retail clients, and other interested parties.
Specifically, we are seeking feedback on our proposals relating to:
- how the organisational competence obligation applies to AFS licensees in a digital advice context; and
- how AFS licensees should monitor and test the algorithms underpinning digital advice.
We have set out our proposed guidance in the draft regulatory guide attached to this paper.
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