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ASIC Corporations (Advertising by Product Issuers) Instrument 2015/539

Authoritative Version
Other as made
This instrument exempts issuers of financial products from the requirement to hold an AFS licence for providing financial advice, where they provide general financial product advice in advertisements, and exempts AFS licensees from the requirement to give an FSG and the requirement to give a general advice warning, where they provide general financial product advice on an offer or intended offer of their securities in advertisements.
Administered by: Treasury
Registered 24 Aug 2015
Tabling HistoryDate
Tabled HR07-Sep-2015
Tabled Senate07-Sep-2015
Table of contents.
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ASIC Corporations (Advertising by Product Issuers) Instrument 2015/539

I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date                18 August 2015

 

Grant Moodie

 

Contents

Part 1—Preliminary                                                                                                     3

1    Name of legislative instrument........................................................................ 3

2    Commencement............................................................................................... 3

3    Authority......................................................................................................... 3

4    Definitions....................................................................................................... 3

Part 2—Exemption                                                                                                       4

5    Advertising-related relief for product issuers.................................................. 4

 

Part 1—Preliminary

1        Name of legislative instrument

This instrument is ASIC Corporations (Advertising by Product Issuers) Instrument 2015/539.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislative Instruments.

Note:    The register may be accessed at www.comlaw.gov.au.

3        Authority

This instrument is made under subsections 926A(2) and 951B(1) of the Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.

Part 2—Exemption

5        Advertising-related relief for product issuers

Licensing

 

(1)     An issuer of a financial product that provides general advice in the form of an advertisement of the financial product does not have to comply with subsection 911A(1) of the Act in relation to the advice, provided the advertisement indicates that a person should consider whether or not the product is appropriate for the person.

Financial Services Guide and general advice warning

(2)     A financial services licensee that provides general advice in the form of an advertisement of securities to be issued by the licensee does not have to comply with subsection 941A(1) or 949A(2) of the Act in relation to the advice, provided the advertisement indicates that a person should consider whether or not the securities are appropriate for the person.