Best Interests Duty (BID)

Best Interests Duty (BID) - AFSL, Wholesale

Version 1.0 - Last updated: 16 May 2023

The Best Interests Duty Policy sets out who the best interests obligations apply to and the licensee's expectations of financial advisers. The policy provides guidance on meeting the safe harbour steps as a means of demonstrating compliance with the best interests duty, as well as guidance on the record keeping obligations. The policy also provides information on meeting the requirements under the conflicts priority rule, with tips and examples to assist with identifying and managing conflicts. The policy also covers the requirement for advice to be appropriate.

Included documents

Document Version Type Date
Best Interests Obligations Policy - AFSL 2.0 Policy 14 Feb. 2020
Best Interests Obligations Mindmap 1.0 Mindmap 1 Nov. 2018