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Compliance, ASIC nothing to fear

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Australian Broker | 04 Mar 2011, 06:00 AM Agree 0
Compliance should not cause brokers fear, while ASIC is really just a "friendly giant" - at least for the next two years, says Gadens Lawyers
  • Ozboy | 04 Mar 2011, 09:02 AM Agree 0
    Does anyone know when ASIC will start a public awareness campaign to support the NCCP? It's great we all know about it but it seems the public has no idea.
  • AdamAllan | 04 Mar 2011, 05:00 PM Agree 0
    Notwithstanding the fact that ASIC may take a soft stance for a period of time the implementation of NCCP is a significant challenge for companies that already have stretched resources. It diverts management time from key business projects and getting on with managing the business. While most industry participants would be supportive of the bulk of the changes it is disruptive and impacts business as usual. It creates resourcing, skills, risk and business change requirements that all need to be managed within existing budgets and normally to an externally imposed timetable. I suspect that the industry would welcome a softer hand by ASIC, at least for a transitionary period.
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