Released 13 March 2012. Comments closed 20 April 2012.

This paper sets out our proposals for revising our guidance on platforms in Regulatory Guide 148 Investor directed portfolio services (RG 148) and accompanying class order relief. The proposals are based on our previous consultation with, and recent review of, the platforms sector.

We seek feedback on our proposals from platform operators, including operators of investor directed portfolio services (IDPSs) and responsible entities of IDPS-like schemes, dealer groups and their associate adviser networks, industry associations, financial consumer and investor advocacy groups and other interested parties such as product issuers including fund managers, custodians and trustees of superannuation master trusts.

We do not seek feedback at the current time on areas of our regulatory approach to platforms that are directly related to the Future of Financial Advice (FoFA) reforms, a key example of which is management of conflicts of interest. We will consider how these reforms may affect our final regulatory approach to platforms after enactment of the legislation and further consultation with industry.

Download the paper (PDF 361 KB) | Read the advisory | View current RG 148 | View the report on submissions