Regulatory Alerts2016-08-30 | RG-255RG 255 Providing digital financial product advice to retail clients
The Australian Securities and Investments Commission issued Regulatory Guide 255 to address the provision of digital financial product advice to retail clients. It outlines the regulatory considerations for persons offering automated advice using algorithms and technology without direct human adviser involvement. The guide covers requirements ranging from obtaining an Australian financial services licence through to the actual delivery of advice.
Issued 30 August 2016
Digital advice (also known as robo-advice or automated advice) is the provision of automated financial product advice using algorithms and technology and without the direct involvement of a human adviser.
This regulatory guide brings together some of the issues that persons providing digital advice to retail clients need to consider when operating in Australia—from the licensing stage (i.e. obtaining an Australian financial services (AFS) licence) through to the actual provision of advice.
Download RG 255 (PDF 544 KB)