Tag Archives: Investor Directed Portfolio Services

ASIC consults on regulatory approach to platforms

The Australian Securities and Investment Commission (ASIC)  has released Consultation Paper 176: Review of ASIC policy on platforms: Update to RG 148 (CP 176) and announced that it is reviewing its regulatory approach to platforms as part of broader efforts to promote investor confidence in the sector.

ASIC states in CP 176 that it is reviewing its regulatory approach to platforms due to the trend towards new forms of vertical integration between parties in the product–distribution chain, with dealer groups increasingly restructuring their operations to become platform operators. ASIC considers there is a risk to investors associated with the emergence of less mature and less experienced platform operators, particularly through ‘private labelling’ arrangements in response to the Future of Financial Advice (FoFA) reforms.

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