From 10 July 2024, advice licensees and their corporate
authorised representatives (CARs) and Authorised
Representatives (ARs) have been able to take
advantage of modest relief in relation to Financial Services Guides
(FSGs).
Reason for reform
As part of her review, Ms Levy recommended that providers of
personal advice either continue to give each client an FSG or make
information publicly available on their website about remuneration,
benefits, and internal and external dispute resolution
procedures.
Pre-existing methods of providing an FSG
This was probably the least consequential amendment brought in
by the DBFO Act. Currently, a licensee, CAR or AR, when required to
provide an FSG to a retail client, may provide it by a range of
methods. These include by:
