Policy Consultation on Amendments to the Securities and Futures (Licensing and Conduct of Business) Regulations and the Financial Advisers Regulations
Proposed revisions to both sets of regulations, in respect of registers of interests in securities, definition of customer assets, exemptions for dealing activities and maximum penalty under the general penalty provision. The paper also clarifies the types of forms to be maintained under these regulations.
Provides guidance to financial advisers about the FAA regime and covers topics including licensing requirements, exemptions, representative notification framework, business conduct and reporting requirements.
Provides guidance on the circumstances under which a financial adviser can provide marketing materials and advice on life products offered by unlicensed insurers, as well as placing risks with unlicensed insurers.