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Showing 1 - 10 of 10 results for "Product intervention powers"

ASIC looks to extend CFD intervention

ELIZABETH MCARTHUR  |  TUESDAY, 19 OCT 2021
The regulator is seeking support from government to extent its product intervention powers on contracts for difference (CFDs) until they are revoked or sunset in 2031. The product intervention order will expire on 23 May 2022 unless it is extended with ...

ASIC to take targeted approach with PIP

ELIZA BAVIN  |  WEDNESDAY, 17 FEB 2021
ASIC commissioner Sean Hughes said the government's Product Intervention Powers (PIP) will allow the regulator to take a targeted, calibrated and less prescriptive approach to regulation. Speaking at the Australian Finance Industry Association Risk ...

The PDS is weak: Rice Warner

ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
... eliminating poor performing MySuper products and ASIC's new design and distribution obligations and product intervention powers, Rice Warner predicts financial products will meet a higher standard in Australia. "In time, advisers will be able to focus ...

Super investment menus not what they seem: Rice Warner

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
... appropriately designed for members. Since the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Bill 2018 passed in April 2019 new requirements for product design and disclosure have come into effect. These ...

Government moves to expand design, distribution laws

HARRISON WORLEY  |  FRIDAY, 13 SEP 2019
... commence in April 2021 as part of the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Bill 2019, subject to the result of the consultation period, which closes on October 11.

ASIC product intervention to commence

JAMIE WILLIAMSON  |  THURSDAY, 27 JUN 2019
... where it feels financial products have caused or are likely to cause consumer detriment. Under new product intervention powers, ASIC will be able to take action against financial and credit products with the potential to cause significant financial detriment ...

Retail clients win under new ASIC powers: Lawyers

KARREN VERGARA  |  TUESDAY, 28 MAY 2019
... Hall & Wilcox highlights the implications of the new design and distribution obligations (DOD) and product intervention powers (PIP) laws, due to take effect 5 April 2021 and 6 April 2019 respectively. Some of the new obligations require providers determining ...

Financial product design and distribution law passes

KARREN VERGARA  |  THURSDAY, 4 APR 2019
... civil or criminal penalties. The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Bill 2019 passed both Houses of Parliament overnight. Providers must determine the target market for financial products on ...

New regulations will choke unlisted property market: PFA

ALEX BURKE  |  TUESDAY, 3 APR 2018
... according to the Property Funds Association. The PFA said the design and distribution obligations and new product intervention powers will restrict boutique and mid-market providers from expanding retail offerings. Instead, the PFA argued, these managers ...

Financial System Inquiry response cut-out-and-keep guide

MARK SMITH  |  TUESDAY, 20 OCT 2015
... insurance. By end-2016: Develop legislation to broaden ASIC toolkit including greater banning and product intervention powers. Regulation What the government said: "The Inquiry found that while our regulatory architecture does not require major change ...
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