The Financial Planning Association of Australia The Financial Planning Association of Australia

Product regulation and ASIC powers


 

The Government has released a consultation paper on two key proposals from the Financial System Inquiry:

  • design and distribution obligations for financial product issuers and distributors
  • product intervention powers for ASIC to enable the regulator to intervene where a product is identified as creating a risk of significant consumer detriment.

The FPA has strongly advocated for greater oversight of financial products for many years. The introduction of product regulation is a significant win for consumer protection.

Submissions are due by 15 March 2017.

Read the Government’s media release

Read the government’s response to the FSI recommendations

Any questions?


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