Disclaimers Checklist

When making disclaimers in information, marketing or promotional material about financial services products that will be circulated to the general public, be aware that regulatory policies and specific legal requirements apply.

Regulatory Guide 234: Advertising financial products and services (including credit): Good practice guidance, issued by the Australian Securities and Investments Commission, is essential reading for all issuers of such material. Section 949A of the Corporations Act, where general advice is provided to retail investors, is also recommended reading.

As a starting point, we have compiled a short checklist for disclaimers. Please note that this is not legal advice and that this list is not exhaustive as it is general in nature.

  1. The name of the licensee and Australian Financial Services Licence or Credit Licence number.
  2. If the issuer of the information is a corporate authorised representative, the name and licensee number of the licensee and the name and authorised representative number of the corporate authorised representative.
  3. A statement that the information provided is general in nature and not intended to be personal advice that is suited to any one person’s particular circumstances.
  4. A statement that the information is only intended for wholesale investors (only if applicable).
  5. Include a warning to seek advice from a financial adviser before making investment decisions.
  6. The date that the information was produced.
  7. A statement that this information could become outdated after publication because circumstances and data can change.
  8. A statement that past performance is no indicator of future returns.
  9. If any dollar figures are published, state whether in AUD or another currency.
  10. The disclaimer must be unambiguous, consistent with the contents and appearance of the advertisement, unlikely to mislead or cause confusion and should be of sufficient size and prominence to effectively convey the key information to a reasonable person on first viewing.
  11. Disclaimer text should be no smaller than 9 points Times New Roman, or equivalent, and should be prominent.

If you would like any compliance assistance and practical information in preparing your marketing materials, offer documents and presentations, please contact Know Compliance at admin@knowcompliance.com.au or telephone (03) 9689 1186.