Regulatory Alerts2020-06-17 | RG-272RG 272 Product intervention power
The Australian Securities and Investments Commission (ASIC) issued this guide to outline its product intervention power, which allows temporary regulatory actions including bans on financial and credit products to prevent significant consumer detriment. The document details the scope of this authority and specifies the conditions under which ASIC may exercise it to issue product intervention orders. It further explains the procedural steps for making these orders to ensure effective implementation and improved consumer outcomes.
Issued 17 June 2020
The product intervention power is one of several regulatory tools available to ASIC to improve consumer outcomes. It allows ASIC to temporarily intervene in a range of ways, including to ban financial products and credit products when there is a risk of significant consumer detriment.
This guide provides an overview of the product intervention power and explains:
the scope of the power
when and how ASIC may exercise the power to make a product intervention order
how a product intervention order is made.
Download the guide (PDF 429 KB)