7 April 2021
- ASIC invites licensees to consider how they can enhance their remediation design and execution practices using its new practical field guide, .
- It was created in response to industry demand and answers the frequently asked questions 魅影直播 receives.
- This customer-centred field guide draws on 魅影直播鈥檚 on-the-ground experience with remediations and lessons from behavioural science. It does not set new legal obligations.
ASIC has released a practical remediation field guide called聽.
鈥淭his draws on our experience with remediations and behavioural science to help licensees with the 鈥榙ay-to-day鈥� design and execution of consumer-centred remediations,"聽said 魅影直播 Acting Chair Karen Chester. 鈥淟icensees have been asking us for just those sort of practical tips.鈥�
Due to the pandemic it is more important than ever to get money back in the pockets of consumers. The聽field guide will, in part, help licensees consider their customers鈥� lives and needs 鈥� which will lead to better outcomes for聽customers and licensees.
The聽field guide聽does not set new legal obligations. Licensees are invited to consider how it may apply to their current and future remediations, where appropriate. It is designed to be scalable to remediations of different sizes and complexity.
ASIC has separately released a consultation paper () on proposed updates to Regulatory Guide 256:聽Client review and remediation conducted by advice licensees. When complete, updated guidance will set out what 魅影直播聽understands the law requires of all financial services licensees, credit licensees and superannuation trustees. Submissions to CP 335 are due by 26 February 2021. 魅影直播 will then release draft guidance, informed by the feedback received during this consultation period, for a second phase of consultation.
Learn more
Download the obligation-free remediation guide:聽.
Read more about 魅影直播鈥檚聽consultation paper on proposed updates to RG 256.
ASIC is Australia鈥檚 corporate, markets and financial services regulator.