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April 30, 2005

FSR compensation arrangements

AFS licensees who provide financial services to retail clients are required under the Corporations Act to have adequate compensation arrangements. Regulations deferred the commencement of this requirement until 11 March 2005 and continued the pre-FSR requirements for certain licensees to have a security bond and/or professional indemnity insurance. The compensation arrangements requirement has been further deferred until 1 July 2006.

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Posted 30th April 2005 by David Jacobson in Financial Services