ASIC considers compulsory advice for complex productsBY MARK SMITH | MONDAY, 14 JUL 2014 12:10PMMandatory financial advice for the sale of complex products is among the measures the Australian Securities and Investments Commission (ASIC) is considering to protect consumers from the risks posed by these investment vehicles. Related News |
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Income protection is a "complex" product. Income protection should not be sold on a general advice basis. Full stop. ASIC take note.