Rules of Engagement Mark Dwyer

AGENDA 1.Spam and Consent 2.Privacy 3.Advice Warnings and Notices 4.Disclosures 5.Other Matters

SPAM AND CONSENT “Well there's egg and bacon; egg, sausage and bacon; egg and spam; egg, bacon and spam; egg, bacon, sausage and spam; spam, bacon, sausage and spam; spam, egg, spam, spam, bacon and spam; spam, spam, spam, egg and spam; spam, spam, spam, spam, spam, spam, baked beans, spam, spam, spam and spam; or lobster thermidor aux crevettes, with a mornay sauce garnished with truffle paté, brandy and a fried egg on top and spam.”

Spam  Spam Act: prohibits sending of unsolicited commercial electronic messages – including , SMS, MMS, IM – where 3 key requirements have not been met 1.Consent 2.Identify 3.Unsubscribe  A single e-message can be spam – doesn’t have to be sent to numerous addressees to be considered spam  Spam filters – trigger words

Identify and Unsubscribe  Identify:  must contain accurate information about the person or organisation that authorised the sending of the message and how to contact them  Unsubscribe:  Message must contain a functional Unsubscribe facility to allow the recipient to opt out of receiving future messages. Unsubscribe requests must be honoured within 5 days – PPP*

Consent  Express consent  Filling in a form, ticking a box on a website, over the phone #, face-to-face – as long as the recipient is clearly aware he or she may receive commercial e-messages in the future  Cannot send an e-message to seek consent > spam  Inferred consent  Through an existing business relationship – PPP  Conspicuous publication of a work-related e-address. BUT your message must relate directly to that person’s line of work  Business cards – be cautious

Consent - PPP  The person/business that caused the message to be sent is legally responsible for proving that consent exists i.e. PPP subscribers  PPP as the message sender is also legally responsible if consent has not been obtained  Purchased address lists: purchaser’s responsibility to ensure consent – be cautious; suggest you don’t purchase the list unless consent can be proven

Spam - Takeaways  Consent, Identify, Unsubscribe  Categorise or tag your client data base to reduce risk of unsubscribes by not sending irrelevant campaigns > “Know Your Clients”  Clients -v- Contacts  Personalise messages  Responses to a campaign that come from non-clients eg: where a client has on-forwarded a message to Facebook friends  Trigger words

PRIVACY

Privacy “Theory”  Privacy Act 1988  National Privacy Principles (Australian Privacy Principles 2014)  Personal information,  Sensitive information  Collection, use and disclosure of personal information  Storage / security of personal information  Data quality > correct errors > marketing 101  Openness and access  NPP 2 – Use and Disclosure, Direct Marketing

Privacy in Practice - PPP  Your and your clients’ “reasonable” expectations about how their personal information is collected used, disclosed, stored  Security of client lists held within PPP  PPP disclosure – the Welcome  NO SURPRISES for the client  INFORM clients > allow them to choose  Privacy Statement on PPP campaign messages as necessary, especially where clients are invited to click through to a third party

 Privacy: Your privacy is important and [NAME OF FIRM] has not provided any personal information about you to [THIRD PARTY]. [THIRD PARTY] will only obtain your personal information if you purchase a product from them.  Privacy and Consent: Your privacy is important and [NAME OF FIRM] has not provided any personal information about you to [THIRD PARTY]. By clicking the link above and submitting the enquiry form, you give your consent for a representative of [THIRD PARTY] to contact you, which may result in [THIRD PARTY] or its representative collecting personal information about you.

Advice Warnings and Notices

Advice Warnings  Financial products – general advice warning “This information is general in nature and does not take into account your objectives, financial situation or needs. You should consider these factors together with the [NAME OF PRODUCT] Product Disclosure Statement before deciding whether to acquire the product mentioned here. acts as a referrer only and does not make any recommendation or give any opinion about this product.”

Other Notices  Professional advice – general warning: “This information is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any advice in this communication you should contact [NAME OF FIRM] to review whether it is appropriate to your objectives, financial situation and needs.”  Professional / License Disclosures XYZ Financial Services Pty Ltd is an Authorised Representative (corporate authorised representative no ) and Credit Representative (corporate credit representative no ) of MoneyBags Financial Group Pty Ltd AFSL  Limited Liability Schemes – accountants, lawyers

Disclosures

 No surprises to clients  No opening for a complaint  If there is a referral fee, commission or other incentive involved, disclose it  Good practice – even if not required by law [NAME OF FIRM] acts as a referrer only and does not make any recommendation or give any opinion about this product. If you purchase a product from [THIRD PARTY], Platinum Partner Program will receive a commission of 20% (plus GST) of the purchase price, of which 16% is passed onto [NAME OF FIRM].

OTHER MATTERS  Acknowledgement of source material  eg: technical articles in client newsletters  Complaint from a client  Respond promptly, advise each other (you and PPP)

CONCLUSION