When must a copy of the FSG be provided to a retail client according to regulations?

The requirement to provide a copy of the Financial Services Guide (FSG) to a retail client is centered around ensuring that clients are adequately informed about the services being offered. According to regulatory standards, the FSG must be delivered "as soon as reasonably appropriate once a service is likely to be purchased." This ensures that clients have the opportunity to review important information regarding the financial services, including details on fees, services, and the financial adviser’s obligations, before any commitment is made.

Providing the FSG at this stage emphasizes transparency and allows clients to make informed decisions in a timely manner. This aligns with the broader goals of consumer protection within the financial services sector, as it ensures clients are aware of the nature of the services they are considering and the implications of those services.

In contrast, the other response options do not meet the regulatory requirement. For instance, providing the FSG only before an initial consultation may not give clients enough prior knowledge to feel adequately informed. Delivering it at the end of the process or only upon request would not meet the proactive disclosure expectations set out by financial regulation authorities.