INFO 232
Fees for no service: Remediation
This is Information Sheet 232 (INFO 232). It explains:.
In plain English
INFO 232 explains how financial services firms should fix issues from charging fees for no service.
INFO 232 applies to Australian Financial Services (AFS) licensees. It details remediation steps for fees paid for services not provided. Firms must identify affected customers. They must then assess and compensate them. This guidance helps ensure fair outcomes for consumers. It was last updated in December 2023.
Why it matters
If your firm charged fees for services not given, this guide is vital. It helps you fix the problem and avoid further issues. Proper remediation builds trust with customers and reduces legal risks.
AI-assisted summary, grounded in the source link below. Generated 2026-05-23 via gemma3:12b.
Issuing regulator
ASIC →Topics
Source: https://www.asic.gov.au/regulatory-resources/financial-services/giving-financial-product-advice/fees/fees-for-no-service-remediation/. Rules Mate indexes + summarises; always verify against the regulator's live publication.