ASIC consults on Financial Services Panel, to peer review industry bans

ASIC is consulting on the establishment of a new panel, the Financial Services Panel, which would determine if the regulator should ban individuals from providing financial services.

ASIC is proposing¬†establishing the Financial Services Panel, which would be “responsible for determining whether ASIC should ban individuals from the financial services and credit industries for misconduct”.

“We would select matters and refer them to the Panel where they are significant, complex or novel. Over time, we may expand the range of matters on which the Panel will make decisions,” says ASIC. Read more...