The Australian Securities and Investments Commission has published a “quick guide” on key obligations for limited Australian financial services (AFS) licensees and their representatives.

It explains who limited AFS licensees and their representatives are, the activities they can undertake, and the conduct and disclosure obligations that apply to them when they give advice.

The guidance follows consultation with 20 limited AFS licensees over the past year.

The regulator has urged limited AFS licensees and their representatives to download the guidance, which can be found here.