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Australia: ASIC's guidance around Records of Advice

ASIC has released guidance around the use of Records of Advice (ROAs). You can find the guidance at this link, including some examples of ROAs. I draw your attention to the example insurance ROA at this link. These should not be considered a direct guide to meeting regulatory requirements in New Zealand, of course. Working through the detail you can see how much more prescriptive and detailed the ASIC approach is - and consequently how much easier it would be to fail to meet some aspect of the specific guidance while arguably doing a good job of meeting the principles of our Code and licence requirements. They can, however, be considered some useful context and give ideas about how to meet those principles in practice.


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