ASIC is seeking industry feedback on its proposal to repeal 59 class orders due to expire between 2015 and 2022.
The corporate regulator has proposed to review the class orders on the basis that they no longer serve a regulatory purpose, a statement issued by ASIC said.
ASIC commissioner John Price said, “ASIC is focused on reducing unnecessary regulation”.
“We believe repealing these redundant class orders will help reduce the complexity of the regulatory regime,” he said.
“However, we would welcome any feedback if people consider repealing any of these instruments would in some way impose a regulatory burden on business."
Consultation Paper 229 Repealing redundant ASIC class orders (CP 229) outlines the class orders under review.
Industry submissions on the proposal are due no later than 17 July 2015.
Investors should be looking to increase allocations to defensive assets this year, with relations between the US and China contributing to m...
Rapid changes in the financial sector are opening opportunities for investors, with the introduction of open banking and digitization to acc...
Australia’s competition watchdog is proposing to accept an application for a certification trademark that signals to potential investors t...