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 scheme (together, referred to as platforms); and
- to amend the definitions of' 'IDPS' and 'IDPS-like schemes' in our class orders for platforms.
Feedback is sought from nominee and custody service operators, platform operators, dealer groups and other interested stakeholders.