March 17 (Reuters) - Australian Securities & Investments Commission:
* COMMENCED CIVIL PENALTY PROCEEDINGS AGAINST COLONIAL FIRST STATE INVESTMENTS LIMITED
* ASIC'S CASE FOCUSES ON TEMPLATE LETTERS SENT TO MEMBERS, AS WELL AS, 46 TELEPHONE CALLS MADE IN ACCORDANCE WITH SCRIPTS
* SAYS COMMENCED PROCEEDINGS FOR ALLEGED MISLEADING OR DECEPTIVE COMMUNICATIONS WITH MEMBERS OF FIRSTCHOICE FUND
* ALSO ALLEGES THAT CFSIL FAILED TO PROVIDE A "GENERAL ADVICE WARNING" DURING TELEPHONE CALLS
* AMOUNT OF ANY PENALTY WILL BE DETERMINED BY COURT; EACH PARTY WILL BE MAKING THEIR OWN SUBMISSIONS TO COURT ON PENALTY RANGE