ASIC announces new guide for research houses
The Australian Securities and Investments Commission (ASIC) will release a new guide covering the role of research and ratings houses later this year.
The move to release upgraded guidance was announced by ASIC chairman Greg Medcraft during the Conference of Major Superannuation Funds (CMSF) in Brisbane.
Medcraft told delegates that since releasing its CP171 document which strengthened the rules around research providers, the regulator had undertaken further consultations with the industry and had received 29 submissions on the issue.
He referred to the need to segregate the research and non-research activities within companies and to remove so far as possible the conflict inherent in some remuneration models.
Medcraft said the new guide would be issued later in 2012.
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