ASIC has released a progress report on the eight
projects it is undertaking as part of the Australian Government’s Refinements to Financial Services Regulation issued on 2 May 2005. 

 ASIC has completed three of its eight FSR refinement
projects. The other five projects have all passed their first stages
and are on schedule to be completed by end November 2005.

In the coming months ASIC will release:

• a policy statement on non-cash payment facilities and any accompanying relief (scheduled for September);
• its final position on authorisation requirements for distributors of general insurance products (scheduled for October);
• relief and/or guidance to reduce
  unnecessary repetition of the general advice warning in an ongoing
  relationship (scheduled for November); and
• relief and/or guidance for providers of on-line calculators other than superannuation calculators (scheduled for November).