Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations For section 1444 of the Act, a reference in subsection
1438(1) of the Act to financial products in a class of products that
are first issued by a person after the FSR commencement does not include
financial products in a class of products if the person who is, or will be,
the product issuer first made an offer to issue a financial product in that
class of products before the FSR commencement.