Gadens: Legal insight | Introduction of the Scams Prevention Framework

AFIA Associate Member Gadens has published an online article which provides a helpful introduction to the Scams Prevention Framework, setting out the principles of the Framework, the regulatory structure that underlies the Framework, and what it means for regulated entities captured by the Framework.

As outlined in the article, the Framework requires that industry be consulted through the drafting of the Framework rules and relevant sector codes, which will provide industry participants with the opportunity to make submissions as to the way in which the Framework should apply. It is not expected for the Framework to be effective until 2026.

The full article can be accessed here.