Authorised Financial Advisers obligations

If you are an Authorised Financial Adviser (AFA) you must comply with a number of obligations when providing financial adviser services.

General obligations

Read about the requirements to act with care, diligence and skill and not engage in misleading, deceptive or confusing conduct that apply to all financial advisers.

Advertisements not misleading, deceptive or confusing

Find out about what is classified as an advertisement and the additional advertising obligations that apply to AFAs.

Disclosure obligations

You must make both a primary and secondary disclosure when providing personalised services to retail clients. This section has information on these and other disclosure requirements.

Code of Professional Conduct for AFAs

The Code sets out minimum standards of professional conduct. You can download or order a copy of the Code.

Continuing Professional Development

AFAs must meet certain minimum standards for continuing professional training. Find out about structured professional development and other question and answers about CPD.

Terms and conditions of authorisation

The terms and conditions include Standard Conditions for AFAs subject to any modifications that the Financial Markets Authority considers appropriate, and any terms and conditions specific to the AFA.

Have and maintain an Adviser Business Statement

Read the guide on developing an Adviser Business Statement (ABS).

Registration obligations

You must annually renew your registration on the Financial Service Providers Register and notify the Registrar of changes. You must be a member of a dispute resolution scheme, if providing services to retail clients.

Regulatory Reporting
Read about the Regulatory Reporting Guide and Regulatory Impact Statement to find out more about AFAs' regulatory reporting obligation.

Other information about AFA obligations

Our AFA monitoring and surveillance webpages explain the approach we take to ensuring AFAs meet their obligations. We also provide monitoring feedback, with specific tips and hints on the behaviours we expect AFAs to demonstrate.

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