The Australian regulator says the new rules will bring further accountability to the market and protect financial services consumers
The Australian Securities & Investments Commission (Asic) has welcomed the passage of key financial services reforms contained in the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) legislation which will introduce a new design and distribution obligations regime for financial services firms; and a product intervention power for the regulator. The reforms will play a ‘critical’ role in the development of a financial service
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