ASIC
ASIC proposes to extend the operation of three legislative instruments for a further five years:
- Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when giving personal advice,
- ASIC Corporations and Credit (Breach Reporting-Reportable Situations) Instrument 2021/716, and
- ASIC Credit (Breach Reporting-Prescribed Commonwealth Legislation) Instrument 2021/801.
ASIC has assessed that these instruments, which are due to expire in October 2024, are operating efficiently and effectively, and continue to form a necessary and useful part of the legislative framework.
In extending operation of the instruments, ASIC will convert [CO 14/923] to the legislative instrument format and consolidate the relief in ASIC Instruments 2021/716 and 2021/801 into one instrument.
A consultation paper was not issued for this consultation.
Providing feedback
ASIC invites feedback on our proposal, including whether:
- the instruments are operating effectively and efficiently, and/or
- whether any amendments are required.
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