The Australian Securities and Investments Commission says authorised representatives selling insurance must identify their Australian financial services (AFS) licensees in business documents.

The corporate regulator says this is necessary to avoid consumers being misled, and business documents must not create the impression that the agent acts as the principal.

The regulator has released information titled “I am an authorised representative, do I have to refer to my AFS licensee in business documents?” in the form of a frequently asked question about financial services regulation.

Executive Director of Compliance Jennifer O’Donnell says the matter is particularly important for consumers, because the licensee is ultimately responsible for the financial services provided by an authorised representative.