CP 247 Client review and remediation programs and update to record-keeping requirements
Released 16 December 2015. Comments due 26 February 2016.
This consultation paper sets out ASIC’s proposed guidance on review and remediation programs conducted by Australian financial services (AFS) licensees who provide personal advice to retail clients.
It also sets out our proposed amendments to the AFS licensee record-keeping requirements when providing personal advice to retail clients.
We are seeking feedback on our proposals from AFS licensees and their representatives, external dispute resolution (EDR) schemes and consumers.
Download CP 247 (PDF 436 KB) | Read the media release | Read the report on submissions
Submissions
- Association of Financial Advisers (PDF 690 KB)
- Association of Securities and Derivatives Advisers of Australia (PDF 288 KB)
- Australian Bankers' Association (PDF 403 KB)
- Australian Bankers' Association supplementary submission (PDF 206 KB)
- Australian Institute of Superannuation Trustees (PDF 499 KB)
- Consumer Action Law Centre (PDF 117 KB)
- Deloitte (PDF 1.37 MB)
- Financial Ombudsman Service (PDF 159 KB)
- Financial Planning Association (PDF 399 KB)
- Financial Services Council (PDF 438 KB)
- Glenn McKean (PDF 135 KB)
- Henry Davis York (PDF 1 MB)
- Industry Super Australia (PDF 689 KB)
- Westpac (PDF 335 KB)