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Product Rationalisation - Issues Paper


Friday, 22 June 2007

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The purpose of this Issues Paper is to serve as the basis for consulting stakeholders about a product rationalisation mechanism in the managed funds sector. Product rationalisation refers to a mechanism for removing outdated managed funds products by transferring beneficiaries out of these products into new products with modern features.

The Regulation Taskforce (the Banks Committee), in its report of 31 January 2006 entitled Rethinking Regulation, recommended that the Australian Government, state and territory governments, APRA and ASIC, should, in consultation with industry stakeholders, develop a mechanism for rationalising legacy financial products (Recommendation 5.19). The Australian Government response of 15 August 2006 indicated that it agreed to this recommendation.

The paper sets out, among other things, the main issues that are involved in the development of a product rationalisation mechanism. A description of each issue is provided, together with one or more questions to which responses are being sought. It also sets out for discussion purposes a number of possible product rationalisation mechanisms. Stakeholders are invited to submit comments on the options presented, or submit their own preferred options.

Submission closing date: 21 September 2007

Address written submissions to:

Product rationalisation project
Corporations and Financial Services Division
The Treasury
Langton Crescent

Phone: 02 6263 3293
Fax: 02 6263 2770

Email: prodrationalisation@treasury.gov.au

Documents Available:

Acrobat (PDF) documents

 Acrobat (PDF)

Product Rationalisation - Issues Paper  334.92kb

Microsoft Word (RTF) documents

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Product Rationalisation - Issues Paper  598.50kb

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Submissions: Product Rationalisation - Issues Paper - 6/02/2008
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