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CP 335 Consumer remediation: Update to RG 256

Released 3 December 2020. Comments closed 26 February 2021.

This consultation paper seeks feedback on the key issues we have identified for updating Regulatory Guide 256 Client review and remediation conducted by advice licensees (RG 256).

The updated guidance will apply to:

  • all licensees who hold an Australian financial service licence or Australian credit licence
  • trustees of regulated superannuation funds (but not self-managed superannuation funds), approved deposit funds or pooled superannuation trusts, and retirement savings account providers.

We are seeking feedback from these stakeholders and also consumers and consumer representatives who have participated in a remediation.

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Related documents

Submissions

  1. AIA Australia (520 KB)
  2. Association of Financial Advisers (PDF 281 KB)
  3. Association of Securities and Derivatives Advisers of Australia (PDF 7.2 MB)
  4. Association of Superannuation Funds of Australia (PDF 176 KB)
  5. Australian and New Zealand Banking Group (PDF 2.3 MB)
  6. Australian Banking Association (PDF 371 KB)
  7. Australian Finance Group Ltd (PDF 357 KB)
  8. Australian Finance Industry Association (PDF 207 KB)
  9. Australian Financial Complaints Authority (PDF 359 KB)
  10. Australian Financial Complaints Authority (supplementary) (PDF 993 KB)
  11. Australian Institute of Superannuation Trustees (PDF 256 KB)
  12. Australian Institute of Superannuation Trustees (supplementary) (PDF 275 KB)
  13. Australian Small Business & Family Enterprise Ombudsman (PDF 941 KB)
  14. Consumer Action Legal Centre (PDF 648 KB)
  15. Ecstra Foundation (PDF 232 KB)
  16. Equifax (PDF 294 KB)
  17. Financial Counselling Foundation (PDF 267 KB)
  18. Financial Planning Association (PDF 240 KB)
  19. Financial Rights Legal Centre (PDF 337 KB
  20. Financial Services Council (PDF 343 KB)
  21. Insurance Council of Australia (PDF 297 KB)
  22. KPMG (PDF 279 KB)
  23. Legal Aid Queensland (PDF 1 MB)
  24. Maurice Blackburn (PDF 465 KB)
  25. Mortgage & Finance Association of Australia (PDF 358 KB)
  26. National Australia Bank (PDF 489 KB)
  27. Norton Rose Fullbright (PDF 343 KB)
  28. QMV Solutions (PDF 446 KB)
  29. Stockbrokers and Financial Advisers Association (PDF 327 KB)
  30. Westpac Banking Corporation (PDF 315 KB)
Last updated: 16/07/2024 12:23