Consultation Paper 346 and draft Regulatory Guide 38: The hawking prohibition
The submission to the Australian Securities and Investments Commission (ASIC) in relation to the Consultation Paper 346 and draft Regulatory Guide 38: The hawking prohibition released on 21 July 2021, was prepared by the Law Council of Australia.
The Law Council’s comments are intended to raise legal issues for consideration by ASIC in settling its updated Regulatory Guide 38, and not matters of policy.
Given the expertise of the members of the Superannuation Committee, the primary focus of this submission is on the application of the hawking regime to trustees of superannuation funds which hold a registrable superannuation entity licence (RSE licence) granted by the Australian Prudential Regulation Authority (APRA).
You can read the full submission below.