CP 182 Future of Financial Advice - Best interests duty and related obligations - Update to RG 175
Released 9 August 2012. Comments closed 20 September 2012.
This consultation paper sets out ASIC’s proposed guidance for persons who provide personal financial product advice to retail clients, and explains:
- the processes to follow to act in the best interests of the client; and
- how to meet the other obligations in Div 2 of Pt 7.7A of the Corporations Act 2001 (Corporations Act).
In assessing whether these processes are effective, we will consider whether they are being applied and the outcome of following them.
This paper includes a draft new section of Regulatory Guide 175 Licensing: Financial product advisers—Conduct and disclosure (RG 175). We are seeking the views of Australian financial services (AFS) licensees, authorised representatives, advisers and consumers on our proposals.
| Ìý | Submission from | Date received |
 1 |
Abacus |
4 October 2012
|
2 |
Association of Financial Advisers |
20 September 2012
|
3 |
Australian Bankers' Association Inc. |
8 October 2012
|
4 |
Australian Financial Markets Association |
5 October 2012
|
5 |
CPA Australia / Institute of Chartered Accountants Australia |
21 September 2012
|
6 |
Financial Planners Association |
12 October 2012
|
7 |
Financial Service Council |
4 October 2012
|
8 |
Henry Davis York Lawyers |
26 September 2012
|
9 |
Industry Super Network / Australian Institute of Super Trustees |
27 September 2012
|
10 |
Johnson Winter & Slattery |
24 September 2012
|
11 |
Lindgren, Hon Kevin, and Stone, Hon Margaret |
2 October 2012
|
12 |
McCullough Robertson Lawyers |
8 October 2012
|
13 |
My Longevity Pty Ltd |
19 September 2012
|
14 |
Price Financial Intelligence Pty Ltd |
18 September 2012
|
15 |
State Super Financial Services Australia |
20 September 2012
|
16 |
Stockbrokers Association of Australia |
25 October 2012
|
17 |
Suncorp Group |
27 September 2012
|
18 |
Vanguard |
20 September 2012
|