RG 179
Managed discretionary accounts
Reissued 29 September 2016. This guide sets out how we will regulate managed discretionary account (MDA) services provided to retail clients under the Corporations Act 2001.
In plain English
RG 179 explains how ASIC regulates managed discretionary accounts for retail clients.
RG 179 was reissued on 29 September 2016. It details ASIC’s approach to regulating MDA services. MDAs are services where a licensee manages a client’s account with discretion. This guide applies to Australian Financial Services (AFS) licensees providing these services. It outlines requirements for authorisation, record keeping, and client suitability.
Why it matters
If your business offers MDAs, understand RG 179. It helps ensure you meet ASIC’s expectations for managing client funds and providing appropriate services. Non-compliance could impact your AFS licence.
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Source: https://www.asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-179-managed-discretionary-accounts/. Rules Mate indexes + summarises; always verify against the regulator's live publication.