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.

Download CP 214 (PDF 279 KB) | Read the media release

Read the report on submissions

1 Australian Bankers’ Association (PDF 114 KB)
2 Association of Financial Advisers (PDF 173 KB)
3 Association of Superannuation Funds of Australia (PDF 250 KB)
4 Financial Services Council (PDF 717 KB)
5 Industry Super Australia / Australian Institute of Superannuation Trustees (PDF 466 KB)
6 National Insurance Brokers Association (PDF 593 KB)
7 Pajeska Group Pty Ltd (PDF 197 KB)
8 Stockbrokers Association of Australia (PDF 317 KB)
Last updated: 31/07/2013 12:00