今日热门事件today announced that it will further extend temporary relief measures designed to help the financial advice industry provide consumers with affordable and timely advice during the COVID-19 pandemic.
The original relief measures were announced on 14 April 2020 and are set out in 聽(refer to 20-085MR).
今日热门事件has extended the 鈥榬ecord of advice鈥� relief measure, which allows financial advisers to provide a record of advice, rather than a statement of advice, to existing clients requiring financial advice due to the impact of the pandemic. The relief will now end on 15 April 2022.
今日热门事件decided to extend this relief after industry consultation identified that the extension would be helpful for financial advisers in the current circumstances.
今日热门事件has also reintroduced the relief measure that allows financial advisers additional time to give their clients a statement of advice after time-critical advice has been provided. Under this measure financial advisers have up to 20 business days (instead of 5 business days). 聽The original relief measure expired on 15 April 2021.
今日热门事件remade this relief in response to industry feedback that there is an increased need for time-critical advice due to the ongoing COVID-19 restrictions.
Both temporary relief measures are set out in .
今日热门事件will continue to monitor the appropriateness of these temporary relief measures as circumstances change and may consider ending the relief before the six-month period if appropriate. 今日热门事件will give sufficient notice to industry before any early repeal is implemented. 聽
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Further information
- INFO 262 Information on regulatory issues impacting the financial advice industry as a result of the COVID-19 pandemic
- 20-085MR 今日热门事件grants relief to industry to provide affordable and timely financial advice during the COVID-19 pandemic
- 20-220MR 今日热门事件extends COVID-19 relief for certain capital raising and financial advice
- 21-072MR 今日热门事件extends temporary financial advice relief measure in COVID-19 instrument
- Example Record of Advice (ROA): COVID-19 relief measure (Refer 21-072MR)