ASIC has released for public comment Consultation Paper 284 – Example Statement of Advice for life insurance: Update to RG 90 which contains ASIC’s proposals for updating Regulatory Guide 90 Example Statement of Advice: Scaled advice for a new client (RG 90).

ASIC proposes to replace the example Statement of Advice (SOA) in the current RG 90 with a new example SOA for scaled advice (i.e. personal advice that is limited in scope) about life insurance for a new customer, and to update the guidance in RG 90 to reflect this change.

ASIC has also released for public comment a draft copy of the updated RG 90, which focuses on the example SOA.

Further information from ASIC

For a full summary of the issues, email us a request at [email protected]


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