ASIC reschedules FSRB policies
The Australian Securities and Investments Commission (ASIC) has revised its schedule for releasing documentation relevant to the Financial Services Reform Bill (FSRB) now that the Bill will commence on March 11, 2002.
The securities watchdog now says that it expects to have its key policy publications that are critical for implementing FSRB legislation issued by December 1, 2001. This date appears to be contingent on the Federal Treasury’s undertaking to have the FSRB regulations finalised by early October.
ASIC deputy chair Jillian Segal says the December publications will include the “policy statements that enable the licensing of a financial services provider”.
The securities watchdog made its announcement through the release of a supplement to a paper released in April titledBuilding the FSRB Administrative Framework.
The appendix to the supplement provides an update on the key policy issues discussed in ASIC’s paperLicensing: Adapting IPS 146 to the Financial Services Reform regime.
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