The Australian Securities and Investments Commission (ASIC) has signalled it is prepared to consider ways of making scaled advice more accessible.
ASIC Commissioner, Danielle Press has used an FSC online forum to confirm that that the regulator will be initiating a consultation process in an attempt to identify what are perceived to be the obstacles to the greater use of scaled advice.
She acknowledged that there was a perception that ASIC was opposed to the use of scaled advice but said this was not the case.
“We want to what it is about what we are doing as a regulator that we can do differently with respect to the delivery of scaled advice,” Press said.
However, she said that whatever it was that ASIC initially delivered would be from the perspective of regulatory remedies, with any legislative efforts being in the realm of the Federal Government.
