Home       What's New?       Corporate       Business       Published Information       Ministers       Related Websites

Margin Lending Disclosure - Draft Regulations and Example Product Disclosure Statement

Date:

Thursday, 24 September 2009

Content ID:

1627

Abstract:

The Minister for Financial Services, Superannuation and Corporate Law, the Hon Chris Bowen MP has released for public comment draft regulations and an example Product Disclosure Statement (PDS) for Margin Lending Disclosure.

On 5 February 2008, the Government announced the formation of the Financial Services Working Group (the Working Group) dedicated to looking at the key issues associated with financial services advice and disclosure.

The Working Group is a Better Regulation Ministerial Partnership between the Minister for Financial Services, Superannuation and Corporate Law, the Hon Chris Bowen MP and the Minister for Finance and Deregulation, the Hon Lindsay Tanner MP and comprises senior officials from the Department of Treasury, the Department of Finance and Deregulation and the Australian Securities and Investments Commission.

In December 2008, the Working Group was tasked with developing a margin lending disclosure framework. The framework has been developed in close consultation with industry, particularly the Margin Lending Industry Consultation Group.

The disclosure framework complements the wider national margin lending regime currently being considered by Parliament as part of the new single Commonwealth managed consumer credit system developed under the Council of Australian Government's Seamless National Economy Agenda.

The Working Group requests comments on the draft regulations and example PDS by 23 October 2009 to assist in helping the Government to finalise the Margin Lending disclosure regime.

Making a submission

Interested parties are invited to comment on the draft regulations and example PDS. While submissions may be lodged electronically, by post or by facsimile, electronic lodgment is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence.  Automatically generated confidentiality statements in emails do not suffice for this purpose.  Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.  A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: Friday, 23 October 2009

Address written submissions to:
Financial Services Working Group
The Treasury
Langton Crescent
PARKES  ACT  2600

Email:  financialservices@treasury.gov.au

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Product Disclosure Statement  574.99kb
Draft Regulations  252.36kb
Commentary  76.75kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Product Disclosure Statement  3,389.28kb
Draft Regulations  493.17kb
Draft Commentary  177.55kb

Related Items:

There are no related items available for content item 1627.

Treasury Portfolio Ministers - Link to website MoreSuper  - Link to website Carbon Price Modelling - Link to Website Clean Energy Future  - Link to website Review of compensation arrangements for consumers of financial services - Consultation Paper  - Link to website

spacer