The Australian Securities & Investments Commission (ASIC) is still finalising its ongoing broker remuneration review after the Minister for Revenue and Financial Services Kelly O’Dwyer offered the regulator a short extension.
An ASIC spokesperson told Australian Broker
that the added time was necessary to manage the significant volume of data involved and allow for further stakeholder consultation.
“Once this has been finished, we will provide the report to the Minister, who will then decide when to release the report publicly.”
The regulator is also using the additional time to verify some data with select stakeholders, they said.
Although the report was due at the end of last year, the extension meant that ASIC was unable to provide a precise end date or release date, the spokesperson added.
M.F.A.A. secures extended ASIC submission deadline
M.F.A.A. talks remuneration with government
Ban on broker commissions “unlikely”