Australian Financial Services Licensing (AFSL) Forum

This topic contains 2 replies, has 0 voices, and was last updated by  Archived User 9 years, 2 months ago.

Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • #2914 Reply

    Hi,

    I’m looking at starting a live trading room, where traders will make live trade calls inside the room. All the Australian traders are RG146 trained and are AR’s. The question I have relates to over seas moderators. What is the requirement for the overseas moderators?  Do they need to be trained? are they allowed to be a moderator?

    #3109 Reply

    If all the moderator does is ‘pass on, publish, distribute or disseminate’ financial product advice of traders within the trading forum, then the moderator should be able to take advantage of an exemption in the Corporations Regulations (Reg 7.1.31) which allows such activities without the need for the moderator (in this case) to be licensed or authorised.  But if the moderator selects, modifies or otherwise exercises control over the content they won’t be able to take advantage of the exemption.

     

    If the moderator itself provides any financial product advice on the forum, they will need to be licensed or authorised to provide that advice.  And if any of the readers of the advice are retail clients, the moderator will also need to be RG 146 trained.

     

    Author: Michelle Chasser

     

    #3110 Reply

    Thank you for your reply.

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

Reply

Reply To: Training RG146 requirement

Your information:


<a href="" title="" rel="" target=""> <blockquote cite=""> <code> <pre> <em> <strong> <del datetime=""> <ul> <ol start=""> <li> <img src="" border="" alt="" height="" width="">

  • Free answers to common Financial Services Regulation (FSR), Consumer Credit and AML/CTF issues.

    Click here to join our LinkedIn group for responsible managers and compliance professionals.
    joinUsOnLinkedIn
  • Training

    Regulatory Compliance Training for Directors, Responsible Managers and Compliance Staff

    View Courses

  • Legal Advice

    Review your AFSL or ACL disclosure documents, conduct a licensee audit and more…

    Get Legal Advice

  • Compliance support

    The HN Hub – an online platform built to support Responsible Managers and Compliance Staff

    More