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Ask former PM Abbott as the ABC and other reports have indicated...

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Scott th Ratbag

41,312 Posts.

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22/09/20

19:12

Post #: 47543270
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Originally posted by THGH: ↑

Appreciate some feedback here, but this potential change has got me thinking.

First Question:
What is the point of deferring an obligation ie KYC / customer due diligence 5 days.

My thinking is, is there someone else out there who has an automated KYC method or is developing one, that will lessen the burden on brokers, but the method is either not dynamic and can't be facilitated in real time or cannot compete with ISX patents and method to KYC in 3-5minutes.

that was all I could come up with. I am at a loss why we would introduce risk into our financial system just to defer an obligation 5 days.

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Ask former PM Abbott as the ABC and other reports have indicated that the changes were the result of Abbott period de-regulation changes.

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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