CP 253 Remaking and repealing ASIC class orders on dollar disclosure
Released 29 February 2016. Comments due 30 March 2016
This consultation paper sets out ASIC’s proposals to remake our class orders on dollar disclosure. Under the Legislative Instruments Act 2003, these class orders will expire (‘sunset’) if not remade.
We are seeking feedback from Australian financial services (AFS) licensees on our proposals to remake, without significant changes, the following class orders:
- Class Order [CO 04/1431] Dollar disclosure: Cost of derivatives, foreign exchange contracts, general insurance products and life risk insurance products, which is due to expire on 1 October 2016; and
- Class Orders [CO 04/1433] Dollar disclosure: Non-monetary benefits and interests and [CO 04/1435] Dollar disclosure: Amounts denominated in a foreign currency, which are due to expire on 1 April 2017.
We are also seeking feedback from AFS licensees on our proposals to repeal Class Orders [CO 04/1430] Dollar disclosure: Unknown facts or circumstances and [CO 04/1432] Dollar disclosure: Interest payable on deposit products, which are due to expire on 1 April 2017.