21 November 2024 – Based on the Delivering Better Financial Outcomes and Other Measures Act 2024 (DBFO Act) outcomes ASIC has updated and released new regulatory guidance and updated four information sheets on:
- FAQs: Ongoing fee arrangements and consents – INFO sheet 286
- FAQs: Non-ongoing fee requests or consents – INFO sheet 287
- FAQs: FSGs and website disclosure information – INFO sheet 291
- FAQs: Informed consents for insurance commissions – INFO sheet 292
- ASIC RG 246 and RG 175
The guidance and regulatory updates relate to the provision of an FSG, updates on the revised advice fee obligations and amendments to conflicted remuneration.
Some of the changes are already active, with others coming into force from 10 January 2025. Read more here.
Policies affected: Advice related policies including those related to conflicted remuneration
Organisations affected: Retail client advice providers and Insurer providers
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