Regulatory Alerts2017-12-07 | RG-090RG 90 Example Statement of Advice: Scaled advice for a new client
The Australian Securities and Investments Commission issued this guide for Australian financial services licensees and advisers to demonstrate compliance with scaled advice requirements. It provides an example Statement of Advice for personal insurance tailored to new retail clients, illustrating how to deliver personal advice that is limited in scope. The document reflects stakeholder consultation and serves as a practical reference for structuring compliant advice outcomes.
Issued 7 December 2017
This guide is for Australian financial services (AFS) licensees, authorised representatives and advisers who give personal advice to retail clients.
It explains how and why we have developed an example Statement of Advice (SOA) for scaled advice (i.e. personal advice that is limited in scope) on personal insurance for a new retail client.
The example SOA was developed in consultation with stakeholders, and we acknowledge their valuable contribution throughout the process.
Download RG 90 (PDF 705 KB)