ASIC releases FSRB papers
The Australian Securities and Investments Commission (ASIC) today released the second round of policy proposal papers (PPP) looking into licensing and administrative issues of the draft Financial Services Reform Bill (FSRB).
The stage two papers, released just one day before the submissions deadline for the first round of papers, continue to focus on licencing issues. The four latest PPPs also include a paper on the approval of codes.
ASIC deputy chair Jillian Segal says this second stage of policy papers is closely linked to the first, and the watchdog now requires feedback on the issues in order to carry through to the next stage.
"ASIC needs input on the issues and questions raised in these papers before we can set out the initial administrative framework for the new legislative regime under the Bill," she says.
The industry has been given five weeks to comment on the second round of proposal papers, with a written submissions deadline set for July 5, 2001.
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