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October 27, 2006

Must authorised representatives refer to their licensee?

In QFS 165 ASIC has reminded authorised representatives (and general insurance
distributors) they must generally refer to their Australian financial
service (AFS) licensee in their business documents that are connected to
the provision of a financial service.

Their business documents must not create the
impression that they act as principal in relation to the financial
services that they provide.

The FAQ gives examples of when disclosure is required.

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Posted 27th October 2006 by David Jacobson in Compliance, Financial Services, Insurance