Unclaimed money in remediation

This report looks at guidance issued by ASIC and the opportunities for reform.

The Australian Securities and Investments Commission (ASIC) released Regulatory Guide 277 (RG 277) in October 2022, ushering in a new era for consumer remediation within the financial services industry. This comprehensive guide, which outlined expectations for Australian financial services licensees (AFSL) and Australian credit licensees (ACL), received a generally positive reception for its emphasis on consumer protection and fair practices. However, as the industry has grappled with the i...

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Authors: Zein El Hassan

Published Date: 21 September 2023