REP 29 Preferential remuneration project

Released April 2004.

ASIC conducted this surveillance project to ascertain whether consumers were receiving the advice and disclosure required by law, and to put financial institutions on notice that preferential remuneration would be subject to ongoing regulatory scrutiny.

Because the surveillance visits for this project were conducted principally during the 2002–2003 financial year, before the changes introduced by the FSR Act took effect, the project findings are based on the ‘old’ advice and disclosure requirements under the law. They do not take into account any new procedures that financial institutions may subsequently have put in place, in response to the new FSR Act requirements.

Download REP 29 (PDF 177 KB) | Read the media release

Last updated: 07/04/2004 12:00