CP 324 Product intervention: The sale of add-on financial products through caryard intermediaries
Released 1 October 2019. Comments close 12 November 2019.
This consultation paper sets out ASIC’s proposal for using our product intervention power in Pt 7.9A of the Corporations Act in relation to the distribution of add-on insurance and warranties by caryard intermediaries.
The proposal complements the concurrent consultation by the Australian Government: see Treasury, Reforms to the sale of add-on insurance products issued in September 2019.
This paper follows on from ASIC’s Consultation Paper 294 The sale of add-on insurance and warranties through caryard intermediaries (CP 294), which sought views on whether or not a deferred sales model should be introduced for the sale of add-on financial products through caryard intermediaries.
We are seeking the views of all parties and interested stakeholders affected by our proposed order.