CP 214 Updated record keeping obligations for AFS licensees
Released 31 July 2013. Comments closed 23 October 2013.
This consultation paper sets out our proposals to update the record-keeping obligations for Australian financial services (AFS) licensees when the licensee or its representatives provide financial product advice to retail clients in accordance with the new conduct obligations in Pt 7.7A of the Corporations Act 2001 (Corporations Act).
We also propose to introduce record-keeping obligations that apply to superannuation trustees when giving personal advice for which they charge members collectively as intra-fund advice.
We are seeking feedback on our proposals from AFS licensees and their representatives (including authorised representatives) and consumers.