What licence authorisations should a product promoter have?

[Archived User]

What licence authorisations should a product promoter have if all they do is promote the product to Financial Advisers and receive fees/commission/rebates from platforms and fund managers?

[Megan Jaksa]

As you would expect, it is very difficult to advise on what type of authorisations will be required without knowing more.  Generally if a licensee is only promoting another licensee’s products they will usually require an advice authorisation and possibly some dealing authorisations depending on the nature of their activities.  Those advice and dealing authorisations would be with regard to the financial products offered or issued by the other licensee.  You should read ASIC’s Regulatory Guide 36 which discusses the licensing requirements for financial product advice and dealing.

We typically help people like you work out the exact authorisations required in around one to three hours of consultation.  Please don’t hesitate to contact our office on +613 9670 8200 if you have any further queries.

 

 

Author: Paul Derham

Co-contributor: Megan Jaksa

 

[Author]

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