The corporate regulator will review the policy on Australia's investor directed portfolio services (IDPS) sector next year.
ASIC investment managers and superannuation senior executive leader Gerard Fitzpatrick said a review of the current policy, RG 148, would be conducted in either the first or second quarter of 2012.
"We're actually undertaking some work on it at the moment, looking at IDPS," Fitzpatrick told a a Trust Company briefing in Sydney yesterday.
He said it was ASIC's intention to consult with current IDPS providers and work through where the current policy sat as far as the industry was concerned.
"This is something that has been mooted in the past but we haven't come to a conclusion yet as to when a policy will come out," he said.
"We anticipate that ... assuming that the internal processes go through, probably sometime in early Q1 or Q2 next year we'll be looking to [put out some information]."
In 2007, ASIC called for public comment on its proposals regarding its IDPS regulation.
At the time, ASIC's proposal aimed to reduce complexity, barriers to entry and the regulatory burden by removing regulation of IDPS operators beyond that applying to licensees performing dealing or custodial or depository services that did not involve an IDPS.
