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Providing insurance & financial advice for more than 40 years
(02) 8268 2900

Compliance

Compliance – an overview

 

Insurance Advisory Service have our own Australian Financial Service License (AFSL). As an AFS licensee, we have a general obligation to do all things necessary to ensure that we provide our financial services efficiently, honestly and fairly. This is to ensure that you “the client” are looked after and treated with respect and fairness.
We have specific obligations relating to:

  • conduct and disclosure
  • the provision of our financial services
  • the competence, knowledge and skills of our responsible managers, as well as their good fame and character
  • the training and competence of our representatives
  • ensuring our representatives) comply with the financial services laws
  • compliance, managing conflicts of interest and risk management
  • the adequacy of our financial, technological and human resources, and
  • our dispute resolution and compensation arrangements

 

We must comply with the conditions of our licence as well as the Corporations Act 2001.

 

 

Financial Services Guide (FSG)

The Financial Services Guide (FSG) is an important document. It is designed to assist you in deciding whether to use any of the financial services offered by us, as described in this FSG. We are required to give you an FSG if we provide certain financial services to you and you are a retail client.

 

Financial Services Guide

 

 

Statement of Advice (SOA)

A document that sets out the advice given to a consumer by their licensed financial planner or adviser. It must include the basis on which the advice is given, details of the providing entity, and information on any payments or benefits the adviser or licensee will receive

 

 

General Insurance Code of Practice

The Insurance Council of Australia Limited has developed the General Insurance Code of Practice for use by all insurers. The Code is a self-regulatory code that aims to raise the standards of practice and service in the insurance industry. It was originally developed in anticipation of legislative changes to the Insurance Act 1973 which require each authorised general insurer in Australia to adopt a Code of Practice approved by the insurance regulator.

 

Terms of Appointment

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