The HSF Financial Services Regulatory team is pleased to have advised the
ASIC has adopted a no-action position as set out in its No-Action Letter. The No-Action Letter provides welcome certainty that ASIC does not intend to take regulatory action in connection with the unfair contract terms regime for a standard form contract that is:
-
made with
- an Industry Standard Form Contract.
The no-action position commenced on
The No-Action Letter strikes a pragmatic and sensible balance between the policy intent of protecting consumers and small businesses under the unfair contract terms regime with the need for regulatory certainty in connection with the provision of institutional financial services.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Ms
NSW 2000
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