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ASIC walks back comments on advice sector refunds

The corporate regulator has given further detail on how its refunding of litigation expenses to the financial services industry works, casting doubt on previous claims that the advice sector will see a significant reduction in levy costs if historic royal commission cases are won.

by | 23 Aug, 2021

ASIC chair, deputy chair step down as investigation is launched

In a question on notice, Liberal senator Slade Brockman asked ASIC to clarify its previous statements to Parliament that costs will be credited to the relevant subsector of the industry that has had to pay for historic cases if the regulator is successful in court.

Read more at Independent Financial Adviser.

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