Consultation Statement 11 Proposed Updates to RG 51 and RG 108 (CS 11)
This submission is made by the Financial Services Committee of the Business Law Section of the Law Council of Australia (the Committee) and relates to CS 11, which the Australian Securities and Investments Commission (ASIC) released for consultation on 21 October 2024.
The Committee thanks ASIC for the opportunity to provide feedback on CS 11 and for providing a reasonable time in which to respond to the consultation.
Background
In CS 11 ASIC has provided draft updated versions of the following regulatory guides:
- Regulatory Guide 51: Applications for relief (RG 51); and
- Regulatory Guide 108: No-action letters (RG 108).
The purpose of the proposed updates is to ensure that RG 51 and RG 108 reflect ASIC’s current regulatory approach.
ASIC has also provided a summary of the changes it is proposing to make in respect of each of RG 51 and RG 108.
Read the full submission below.
Last Updated on 04/12/2024
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