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IFSA upgrades unit pricing standards
The Investment and Financial Services Association (IFSA) has upgraded its unit pricing standards, claiming they will lead to greater certainty and therefore less need to compensate investors for significant pricing errors.
The new standards were announced by IFSA chief executive Richard Gilbert, who said they had flowed from a 12-month consultative process undertaken by IFSA’s Unit Pricing Working Group with member companies and regulators.
The new standards will take effect from July 1 next year.
Gilbert said feedback from the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission had been positive and that the new standards would also ensure greater consistency with regulatory guidelines and better documentation of company unit pricing policy and procedures.
He said the new standards were compulsory for members of IFSA.
AUTHOR
Mike Taylor
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