Dollar disclosure relief extended for insurers
The Australian Securities and Investments Commission (ASIC) has extended interim dollar disclosure relief to the issuers of general insurance products to March, next year.
The relief has been extended while the Government considers the application of the dollar disclosure requirement within general insurance Product Disclosure Statements (PDS).
At the same time, ASIC has extended interim Australian Financial Services licensing relief to actuaries while the Government continues the industry consultation process with respect to licensing provisions.
The relief provided to actuaries dates back to early last year and relates to the Government giving consideration to a possible permanent exemption being applied to certain types of work.
The relief granted to general insurance products and dollar disclosure relates to a review of PDS requirements and the dollar disclosure regime announced in April.
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