Review an outbound contact for the prohibition on hawking financial products
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the call script, email sequence or meeting note, list each contact, who started it, whether the consumer is described as a retail client, and each offer, request or invitation to apply for or buy a financial product. Do not rewrite the script and do not say that an exception applies.
- What the lawyer must review
- The lawyer decides whether section 992A is breached. Section 992A(1) says a person must not offer a financial product for issue or sale to a consumer, or request or invite the consumer to ask or apply for a financial product or to purchase one, if the consumer is a retail client and the offer, request or invitation is made in the course of, or because of, an unsolicited contact. Failure to comply is an offence. Subsection (2) contains exceptions. The text opened includes an exception for an offer made in the course of advice by a person required to act in the best interests of the consumer, and an exception for an add-on insurance product in relation to a principal product or service the consumer has indicated an intention to acquire, in the circumstances the subsection states. The lawyer reads the whole of subsection (2) and section 992AA. Regulatory Guide 38 is ASIC's guide to the hawking provisions in those sections. The guide page was opened. The guide PDF was not.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the call script, email sequence or meeting note, list each contact, who started it, whether the consumer is described as a retail client, and each offer, request or invitation to apply for or buy a financial product. Do not rewrite the script and do not say that an exception applies. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Record who initiated the contact and what was offered. A follow-up can still be because of an earlier unsolicited contact. The lawyer applies the definition of unsolicited contact in the section.
- Read all of section 992A(2), not only the best-interests and add-on insurance exceptions that were extracted, and read section 992AA.
- Regulatory Guide 38 is the guide to both sections. Open the current PDF before the script is used. The PDF was not opened for this task.
- The tool does not supply replacement script wording. The lawyer writes any script that will be used with a consumer.
Sources
- Corporations Act 2001 (Cth) section 992A · 2026-10-22
- ASIC Regulatory Guide 38: The hawking prohibition · 2026-10-22
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.