ob体育 is seeking industry feedback on proposed updates to Regulatory Guide 51 Applications for relief (RG 51) and Regulatory Guide 108 No-action letters (RG 108).
ob体育 is updating RG 51 and RG 108 to reflect our current regulatory approaches to both applications for relief and no-action letters, to incorporate relevant additional guidance and amend outdated references. We are not proposing to make significant changes to the factors that we consider when assessing applications.
Proposed updates to RG 51 are:
- consolidate our separate guidance on how we charge fees for applications
- combine relevant guidance on procedural fairness and rights of review
- revise content on what to include when making an application, and
- amend the description of our approach to applications, considering the decision in Lantern Hotel Group and Australian Securities and Investments Commission [2015] AATA 428.
Proposed updates to RG 108 are:
- simplify the existing guidance on 鈥榳hat is a no-action letter鈥� and 鈥榳hy ob体育 gives no-action letters鈥�
- make minor changes to the factors that make it more likely we will give a no-action letter
- consolidate guidance on no-action requests and class no-action requests to avoid repetition, and
- introduce content to highlight the absence of review rights and need to lodge an application through the and pay an application fee.
A copy of the updates and a more detailed summary of the changes proposed are available below.
Download
CS 11 Proposed updates to RG 51 and RG 108
Providing feedback
ob体育 welcomes feedback from industry and interested stakeholders on the proposed updates to RG 51 and RG 108. We are primarily interested in understanding whether our guidance is sufficiently clear to meet the needs of users.
Submissions should be sent to [email protected]聽by 5pm on Monday, 18 November. Feedback provided will not be treated as confidential unless you specifically request that we treat all or part of it in that way.
Background
RG 51 provides guidance for applicants and advisers who are applying to ob体育 for relief. It sets out the types of applications that can be made, how to submit applications, our general approach to applications for relief, and the types of relief available.
RG 108 provides guidance for applicants and advisers who are applying to ob体育 for a no-action letter. It explains how to make an application for a no-action letter and sets out the factors ob体育 considers when dealing with a request for a no-action letter.
ob体育 routinely reviews and updates our regulatory guidance. Where appropriate, we seek feedback from industry and interested stakeholders to inform our updates to the guidance.
ob体育 is Australia鈥檚 corporate, markets and financial services regulator.