The Australian Securities and Investments Commission (ASIC) has released Consultation Paper 191 - Future of Financial Advice: Approval of codes of conduct for exemption from opt-in requirement (CP 191) establishing the consultation process to amend ASIC Regulatory Guide 183 Approval of financial services sector codes of conduct (RG 183). ASIC now invites feedback on the proposed amendments with submissions due by 4 December 2012. Submissions received by ASIC will shape its redrafting of RG 183.

Parties who are interested in responding to the consultation paper should read through RG 183 and the proposals contained at the back of CP 191. If you would like assistance in preparing your response, please contact one of our experienced lawyers listed in this Client Alert.

Please see full alert below for more information.