CP 264 Remaking ASIC class order on nominee and custody services and proposed changes to platforms policy

CP 264 Remaking ASIC class order on nominee and custody services and proposed changes to platforms policy

Released 21 July 2016. Comments due 1 September 2016.

This consultation paper sets out ASIC’s proposal to remake, with changes, Class Order [CO 02/295] Nominee and custody services, which is due to expire on 1 April 2017. Under the Legislation Act 2003, this class order will expire (‘sunset’) if not remade.

We are also seeking feedback on our proposals:

on access by retail clients to a financial product issuer’s dispute resolution processes for investments through a nominee and custody service, or through an investor directed portfolio service (IDPS) or IDPS-like 91AV (together, referred to as platforms); and
to amend the definitions of' 'IDPS' and 'IDPS-like 91AVs' in our class orders for platforms.

Feedback is sought from nominee and custody service operators, platform operators, dealer groups and other interested stakeholders.