Australia: Future of Financial Advice Series: ASIC's new powers

Insurance Update

This update outlines the new powers conferred on the Australian Securities and Investments Commission (ASIC). Under the FOFA reforms, ASIC has increased powers to protect the public, which will also reinforce the integrity and reputation of the financial services industry.

This is intended as a general overview, targeted specifically at claims officers and underwriters of insurers of professionals required to comply with FOFA reforms.

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