REP 8 PJC Inquiry into fees on electronic and telephone banking
Released June 2000
Our submission to the Parliamentary Joint Committee on Corporations and Securities.
As the conduct and disclosure regulator for the financial sector ASIC is interested in, and will comment on, those of the Committee’s terms of reference which focus on disclosure and on ASIC’s role. We do not touch upon the term of reference dealing with the quantum of fees.
Our submission is divided into 6 parts which, after an introductory part, look at:
- the principles of good disclosure;
- the regulatory regime for transaction fee disclosure;
- the adequacy of that regime;
- how to improve telephone and electronic banking fee disclosure; and
- ASIC’s role.