Guidance · ASIC · 15 Sep 2016 · RG-256

RG 256 Client review and remediation conducted by advice licensees

The Australian Securities and Investments Commission issued Regulatory Guide 256 to provide guidance on client review and remediation processes for Australian financial services licensees providing personal advice to retail clients. This document mandates that such licensees apply these standards to relevant non-advice remediation activities as well. The guidance specifically applies to remediations initiated before 27 September 2022, while those starting on or after that date must comply with Regulatory Guide 277.

AustraliaAustralian Securities and Investments Commission

Issued 15 September 2016

This guide sets out our guidance on review and remediation conducted by Australian financial services (AFS) licensees who provide personal advice to retail clients (advice licensees).

The guidance should also be applied to review and remediation that is not related to personal advice to the extent relevant.

Note:
This guide applies to remediations initiated before 27 September 2022. Remediations initiated on or after 27 September 2022 must be conducted in a manner consistent with Regulatory Guide 277 Consumer remediation ( RG 277 ).

Download the guide (PDF 500 KB)

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