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How does PS 146 / RG 146 apply to incidental advice provided by lawyers?

April 26, 2017advice incidental lawyers provided Ps RG

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How does PS 146 / RG 146 apply to incidental advice provided by lawyers?

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Advice given by a lawyer in their professional capacity about matters of law, legal interpretation or the application of law to the facts is not financial product advice. A person is also taken not to provide financial product advice if they only express an opinion or recommendation about the allocation of a person’s funds among certain types of products and do not express an opinion or recommendation about a specific financial product or class of financial products.