The Australian Securities and Investments Commission (ASIC) is “100% on schedule” to deliver the eight financial services regulation refinement projects the Government gave it back in May. A progress report shows the regulator is on track to have most of its projects finished – or where public consultation is needed, consultation completed – by the September 30 deadline.

Three of its eight refinement projects have been completed. The other five have all passed their first stages and are on schedule to completed by the end of November.

Among the achievements is the release of an example statement of advice and accompanying guide, a consultation paper on a proposal to reduce repetition of the general advice warning, an updated Policy Statement 146 on training of financial product advisers, and relief for product issuers who provide general financial product advice in advertisements.

Now ASIC is planning to release a policy statement on non-cash payment facilities and any accompanying relief, its final position on authorisation requirements for distributors of general insurance products, relief and/or guidance to reduce unnecessary repetition of the general advice warning in an ongoing relationship, and relief and/or guidance for providers of online calculators.

Deputy Chairman Jeremy Cooper says the regulator has worked hard on the refinements projects over the past four months. “Like everyone else, we share the objective of the refinements proposals of ensuring that financial services reforms deliver real benefits to consumers, without imposing unnecessary burdens on industry.”