Advisers put on notice by ASIC around timeshare schemes
The corporate regulator has highlighted the role of advisers in selling timeshare products after a new report found high levels of non-compliance with the best interests duty.
The research from ASIC’s Report 642 involved in-depth interviews with 50 consumers who had all received personal advice to purchase timeshare membership from one of the five main points-based timeshare operators in Australia – Accor Vacation Club, Classic Clubs, Marriott Vacation Club, Ultiqa and Wyndham.
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