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ASIC welcomes new laws to protect financial service consumers - Insurance & Risk Professional
ASIC has welcomed the passage of key financial services reforms contained in the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) legislation introducing: a design and distribution obligations regime for financial services firms; and a product intervention power for ASIC The design and distribution obligations will bring accountability for issuers and distributors to design, market and distribute financial and credit products that meet consumer needs. Phased in over two years, this will require issuers …