The Australian Securities and Investment Commission

/Tag:The Australian Securities and Investment Commission

ASIC updates insurance arrangement for AFS licensees

The Australian Securities and Investment Commission (ASIC) has released an updated version of Regulatory Guide 126 Compensation and insurance arrangements for AFS licensees. This guide sets out the minimum Professional Indemnity requirements for licensees with an exposure to retail clients. As background: The various requirements of the ‘Implementation policy period’, or Stage 1, of RG126 should have been addressed by licensees over the course of 2008 by effecting various changes

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