Adjusting to the new margin lending regime

1 April 2011 00:01

Su-King Hii is principal of Innoinvest Consulting

Notes

1.ASIC, Consultation Paper 129, Non-standard margin lending facilities: Improving disclosure for retail clients, paragraph 6, page 7, December 2009, <http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/cp129.pdf/$file/cp129.pdf>, accessed August 17, 2010.

2.The Parliament of the Commonwealth of Australia, Corporations Legislation Amendment (Financial Services Modernisation) Bill 2009, Explanatory Memorandum, paragraph 1.80, page 30, < http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r4181_ems_56b29849-a783-4ac3-8008-2f1175fdfec4/upload_pdf/335594rem.pdf;fileType=application%2Fpdf >, accessed August 17, 2010.

3. Ibid, paragraph 1.92, p32.

4. APRA, Superannuation Industry Supervision (Regulation) 6.01(5), Retirement Savings Accounts Regulation 4.01(5), Guidelines For Trustees Early Release of Superannuation Benefits, July 1999, p2, <http://www.apra.gov.au/Superannuation/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=3531>, accessed August 17, 2010.

5. The Parliament of the Commonwealth of Australia, Corporations Legislation Amendment (Financial Services Modernisation) Bill 2009, Explanatory Memorandum, paragraph 1.97, pp. 28-29, < http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r4181_ems_56b29849-a783-4ac3-8008-2f1175fdfec4/upload_pdf/335594rem.pdf;fileType=application%2Fpdf >, accessed August 17, 2010.

6. Ibid, paragraph 1.115, p31.

7.ASIC, Regulatory Guide 146, Licensing: Training of financial product providers, December 2009, p38, http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg146.pdf/$file/rg146.pdf>, accessed August 17, 2010.