Australian Financial Services Licensing (AFSL) Forum

This topic contains 2 replies, has 3 voices, and was last updated by  David Bolston 1 week, 2 days ago.

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  • #4018 Reply


    Do the anti hawking provisions only apply to financial products or do they also cover financial services?

    #4079 Reply

    Hi there,


    Thanks for your query.


    The anti-hawking provisions are themselves deemed financial services laws.  Financial services licensees have an obligation to ensure that their representatives comply with financial services laws.  Therefore the representatives must be compliant with the hawking provisions.  The provisions are set out in sections 736, 992A and 992AA of the Corporations Act.  In general terms they stipulate that financial products should not be offered for issue or sale when an unsolicited meeting or telephone call has taken place with a retail client.


    The hawking provisions therefore function to control the promotion and sale of particular financial products, not financial services.


    You should also be aware of the general rules on making unsolicited telephone calls and charging for the supply of unsolicited financial services.


    If you have any further queries regarding the provisions, please do not hesitate to contact our office for assistance.


    Author: David Court

    Co-contributor: James Tselios


    #5441 Reply

    David Bolston

    I am still confused by this explanation to be honest. If i am an insurance broker and drive past a business for eg a cafe. If i call them on their advertised phone number and ask them if i could find out the renewal date as i would like to review their insurance and see if i can save them money/get a better deal ect…am i in breach ?


    The same process as in opening up the yellow pages book or yellow pages online ect.


Viewing 3 posts - 1 through 3 (of 3 total)


Reply To: Anti-Hawking Provisions

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