Ian Johnston, the Australian Securities and Investments Commission's (ASIC) Executive Director of Financial Services Regulation, says the recent “ASIC Speaks” seminars around Australia were a big success, raising broker awareness of the need to prepare intermediary businesses early for Financial Services Reform Act (FSRA) implementation.

Mr Johnston said the ASIC website will continue as the main form of communication with the industry, enabling the regulator to reach as many participants as possible. He said ASIC has again invited key industry bodies to discuss the second set of policy proposal papers (PPPs).

The regulator is encouraging professionals to discuss the PPPs with their key representative body and make a formal submission responding to them. “This is the best way to ensure your comments and concerns are considered as part of the policy development process,” Mr Johnston said.

ASIC has also set up an online project office to help people understand how ASIC will implement the FSRA legislation.