Preview
Archived Posts Lists

Australian Regulatory Compliance Review
Australian Technology and IP Business
Credit Union and Mutual Law
National Consumer Credit Reform
Personal Property Securities Australia
Longview Business Insights
Australian Private Health Insurers
Wills, Trusts, Super
Mutuals Resource Centre

Resources

Commonwealth legislation
Corporate Governance
Not-for-Profit links
Regulator Links

March 20, 2012

ASIC consults on regulatory approach to platforms

ASIC has released Consultation Paper 176 Review of ASIC policy on platforms: Update to RG 148 (CP 176) which proposes changes to Regulatory Guide 148 Investor Directed Portfolio Services (RG 148).

ASIC proposes additional requirements for platform operators to protect investor rights associated with investments made through platforms.

ASIC also proposes to require platform operators to disclose how they select financial products for inclusion on investment menus.

ASIC expects that the Government’s Future of Financial Advice reforms, if enacted as proposed, will have significant impacts on the platforms sector. This consultation paper does not address areas of its regulatory approach that are directly related to these reforms, a key example of which is management of conflicts of interest. ASIC will consider how these reforms may affect its final approach to providing guidance for platforms following enactment of legislation and further consultation.

Print This Post Print This Post

Posted 20th March 2012 by David Jacobson in Corporations Act, Financial Services, Future of Financial Advice Reforms, Investments