Financial product design & intervention powers – updated draft legislation released

Written by Philip Hopley The federal government has just released for public consultation a second exposure draft of the legislation that will introduce financial product design and distribution obligations into the Corporations Act and give ASIC new enforcement powers, which includes the issuing of stop orders. Having considered the submissions provided on the first draft of … Read more

When utmost good faith is not good enough

Written by Philip Hopley There is just over a month left for stakeholders to provide views on a proposed model that will implement the government’s policy to apply unfair contract terms legislation to life and general insurance contracts for consumers and small businesses. To find out more, click here. Read more

Cyborg Advice

Written by the one and only Michael Vrisakis Yesterday’s Financial Review contained an article by James Eyers (page 22) which touched on what we will call “Cyborg Advice”; that is hybrid advice involving man and machine. The article notes that developments such as open banking and broader “customer data rights” are likely to push advice … Read more

Welcome to the HSF Regulatory, Governance, Remediation and Culture Portal

Our Regulatory, Governance, Remediation and Culture team (RGRC) will bring you thoughtful insights, RGRC updates and industry highlights.  We would love for you to interact with us, so feel free to leave a comment, or reach out to us directly. We welcome you to follow us, subscribe and share us with your colleagues.  Please also get … Read more