Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p40
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 40/60)
Character Range: 923222–926108

Part 7.7 of the Act (see paragraph 943J(b) of the Act).

7.7.05  Record of advice given by financial services licensee
  For subparagraph 942B(2)(g)(iii) of the Act, the period within which a client may request a record of the advice to which that subparagraph relates is 7 years after the day on which the advice is provided.

7.7.05A  Financial Services Guide given by authorised representative of financial services licensee: authorised representative number
 (1) For paragraph 942C(2)(m) of the Act, the Financial Services Guide given by an authorised representative must include the authorised representative number allocated by ASIC to the authorised representative.
Note: This regulation is also relevant to website disclosure information made available in accordance with Division 2A of Part 7.7 of the Act (see paragraph 943J(b) of the Act).
 (2) Subregulation (1) does not apply to a Financial Services Guide to which regulation 7.7.05B applies.

7.7.05B  Personalised Financial Services Guide
 (1) This regulation applies if:
 (a) a financial services licensee; or
 (b) an authorised representative (the authoriser) of a financial services licensee;
authorises an individual to provide financial services on behalf of the licensee.
Note: This regulation is also relevant to website disclosure information made available in accordance with Division 2A of Part 7.7 of the Act (see paragraph 943J(b) of the Act).
 (2) For paragraph 942C(4)(b) of the Act, the Financial Services Guide in relation to a financial service does not have to include the information in paragraph 942C(2)(a) of the Act, in respect of the individual, if:
 (a) the financial service is dealing in a financial product or the provision of general advice or both; and
 (b) the individual provides the financial service in accordance with the authorisation; and
 (c) the licensee has reasonable grounds to believe that the identity or remuneration of the individual would not be material to a decision by a retail client whether or not to obtain the financial service; and
 (d) the Financial Services Guide includes:
 (i) the contact details and licence number of the licensee; and
 (ii) a statement setting out, in general terms, the individual's role and capacity in providing the financial service.
 (2A) For paragraph 942C(4)(b) of the Act, the Financial Services Guide in relation to a financial service does not have to include a statement setting out the name and contact details of a person if:
 (a) the person is:
 (i) a franchisee of the holder of an Australian financial services licence (the franchisor) and a corporate authorised representative of the franchisor; or
 (ii) an employee of a franchisee of the holder of an Australian financial services licence; and
 (b) the franchisor is an authorised deposit‑taking institution (within the meaning of the Banking Act 1959) and regulated by APRA;