IR 06-45 ASIC further extends transitional compensation arrangements for AFS licensees
Wednesday 20 December 2006
ASIC today announced a new class order [CO 06/1012] extending the transitional compensation arrangements under s912B of the Corporations Act 2001 until 30 June 2007.
‘After consultation with the Government, ASIC has decided to continue the transitional arrangements for a further six months to give the Government time to finalise the compensation regime’, ASIC’s Executive Director of Regulation, Mr Malcolm Rodgers said.
We understand that the Government plans to finalise the compensation regulations during these next six months, including any further transition period.
For background and history on the compensation requirements, see IR 06-21 Transitional compensation arrangements extended for AFS licensees.
