ASIC today released Consultation Paper 99 Mortgage Schemes – improving disclosure for retail investors. This paper proposes to introduce further regulation that directly affects the way in which Principled Mortgages™ provides investors with information.
Geoff Rowles from Principled Mortgages™ said today after reviewing the Consultation Paper briefly that it was likely Principled Mortgage Investments Ltd would make a submission to ASIC on this topic.
ASIC proposes to introduce eight benchmarks against which mortgage funds will need to report to investors. Principled Mortgages™ expects to meet each of ASIC benchmarks, subject to any changes that may be introduced before final Regulatory Guide is issued.