ASIC has reissued ASIC Regulatory Guide Unsolicited credit cards and debit cards (RG 201) for card providers who issue credit or debit cards to consumers.
RG 201 sets out ASIC’s position on the prohibition of the unsolicited sending of credit and debit cards under section 12DL of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act), including the scope of exceptions to that prohibition.
ASIC has added a further example stating that obtaining a consumer’s verbal request for a card (such as in a call centre context), irrespective of whether the audio is recorded or not, does not meet the requirement in section 12DL of the ASIC Act for the consumer’s written request.
If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.
Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
