Regulation – Compensation and insurance arrangements for AFS licensees
This article considers and reports on the requirement that financial services licensees who provide financial services to retail clients have compensation arrangements in place which are approved by ASIC and, in particular, the guidelines for adequate professional indemnity insurance published by ASIC in March 2008.
Significant cases, legislation or articles referred to
- Section 912B of the Corporations Act 2001 (Cth)
- Corporations Regulation (7.6.02AAA)
- ASIC Regulatory Guide 126