MDA - Provider FSG

Compliant FSG template including all standard information plus the additional information about MDA services that an MDA provider must disclose, including:

• Financial services authorisations
• Concise description of MDA service
• Requirement to enter into MDA contract
• Significant risks of an MDA service
• Outsourcing, custody and administration
• MDA fees and costs
• Important associations
• PI insurance
• Complaints procedures
• Privacy

Benefits:

• A special purpose FSG template designed specifically for MDA services
• Meets all standard FSG content requirements
• Includes all the MDA regulatory requirements for FSGs Variable clauses to suit different MDA models
• Clear concise and effective language
• Detailed content and user guide
• Purchase as part of the MDA Kit for a complete MDA compliance system

Use:

• Customise to create a compliant MDA provider FSG
• Suitable for all types of MDA providers. NB: Additional customisation will be required for MDA providers who use an external custodian or non-recourse financial products

The MDA regulatory regime is very complex, particularly in relation to costs disclosure. The Fold strongly recommends that you get legal signoff on your MDA documentation and at the very minimum on the ‘MDA fees and costs’ section of your FSG. Budget for signoff on this section to cost around $2,000 - $3,500 depending on the complexity of your MDA arrangements and the accuracy of your customisation.