Regulatory Update: the Ripoll Inquiry into financial products and services
25 November 2009
The Report into financial services and products by the Parliamentary Joint Committee on Corporations and Financial Services has been tabled in Parliament with a total of 11 recommendations.
At its simplest, the Report suggests that ASIC be given more power, investors be given better education and that there ought to be better (or at least greater) disclosure. For the product origination and distribution industry there are calls for more self regulation, greater responsibility to investors and restrictions on commissions. As if recognising the necessary limitations of all the above there is the life boat of a compensation fund.
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This article provides information about topical legal issues.
Information contained in this article is intended as an introduction only
and should not be relied on in place of legal advice.
