Secondary services and FSGs

We have granted certain providers relief from giving FSGs in some situations when they have no direct relationship with the client.

We recognise that there may be practical difficulties in providing an FSG in cases where the providing entity does not have a direct relationship with the retail client.

Regulatory Guide 175 Licensing: Financial product advisers (RG 175) contains guidance about:

  • what a secondary service provider is, and their obligations
  • what an intermediary is, and their obligations
  • how to overcome the difficulty of providing an FSG when there is no direct relationship with the client
  • when you can combine an FSG with a PDS (Product Disclosure Statement) or other document (e.g. a prospectus)
  • how to avoid providing a secondary service.

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Last updated: 30/03/2021 09:24