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ARTICLE · 14 JULY 2009

ASIC Seeks Feedback On Financial And Training Requirements For Margin Lending Facilities

Norton Rose Fulbright Australia
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ASIC yesterday released two policy proposals, Consultation Paper 108 Margin lending: training of financial advisers and Consultation Paper 109 Margin lending: Financial requirements.

AustraliaCorporate/Commercial Law
Alison Deitz
Alison Deitz
David Lyons
David Lyons
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Following the introduction of the Corporations Legislation Amendment (Financial Services Modernisation) Bill 2009 (Bill) into Parliament on 25 June 2009, ASIC yesterday released two policy proposals, Consultation Paper 108 Margin lending: training of financial advisers and Consultation Paper 109 Margin lending: Financial requirements, which outline how ASIC proposes to:

  • apply training requirements to financial product advisers who advise on margin lending facilities, and
  • apply the financial resource requirements to Australian financial services (AFS) licensees who provide financial services in relation to margin lending facility products.

We have been following the proposed changes being made to Chapter 7 of the Corporations Act 2001 in relation to margin lending for some time and have been providing Legal Updates on this topic for the past twelve months.

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