Response to Consultation on ASIC CP357 – Remaking Relief for Business Introduction Services
The submission to the Australian Securities and Investments Commission (ASIC) in response to CP357 was prepared by the Corporations Committee of the Business Law Section.
For the reasons set out below, the Committee:
- Supports the relief being continued, but without allowing the relief for Chapter 6D (or 2L) to sunset in April 2022 unless there is sufficient evidence that aspect of the relief is not being relied on in any substantial manner.
- Supports the terms of the relief being continued for scheme interests and for the terms of the relief to cover the proposed design and distribution obligations.
You can read the full submission below.