Financial Services Regulation and Marketing
Financial Services Marketing
NO HAWKING OF SUPERANNUATION AND INSURANCE PRODUCTS
The Corporations Act prohibits the "hawking" of superannuation products and insurance products from 5 October 2021.
It prohibits offers to sell or issue financial products which are made in the course of, or because of, unsolicited contact. The general prohibition applies to all kinds of financial products, including securities and interests in managed investment schemes, except in certain circumstances.
The hawking reforms give consumers greater control over the circumstances in which they are offered products, and prevent consumers being approached with unwanted products on cold-calls or through other unsolicited contacts.
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