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ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968
“912AE — Requirements for the provision “912AE — Requirements for the provision of MDA services
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“912AE – Requirements for the provision of MDA services
(1) Sections 912AEA to 912AEG apply to a financial services licensee that: (a) holds an Australian financial services licence authorising it to deal in either or both of: (i) interests in managed investment schemes that are limited to rights to receive MDA services; and (ii) miscellaneous financial investment products that are limited to rights to receive MDA services; and
Note: The licence may authorise dealings in other interests in managed investment schemes or miscellaneous financial products.
(b) provides, or offers to provide, MDA services to a person as a retail client.