Category: Regulatory Updates

Regulatory Update – 9 October

Australian Securities and Investments Commission Interim so order on Australian Secure Capital Fund PDS. The conduct regulator issued an interim stop order on an Australian Secure Capital Fund Limited product disclosure statement (PDS) for three of its funds for being ‘defective’ and for lacking clarity. Read More Here. ASIC Supervisory Priorities 2026-2027. The securities regulator […]

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Regulatory Update – 25 September

  Australian Securities and Investments Commission AI & Market Integrity. The safeguards around AI-enabled trading are being strengthened in an environment where there is an increase in the adoption of AI and Australian markets are almost entirely automated. Read More Here. Improved sustainability reporting. AISC report 839 ASIC’s review of sustainability reports lodged for 31 […]

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Regulatory Update – 11 September

Australian Securities and Investments Commission Service providers a major risk in operational, cyber and AI intersection. ASIC published notes from the superannuation roundtables that the conduct regulator co-hosted with the Australian Prudential Regulation Authority (APRA). The notes highlight the importance of  action and the risk by third-party service providers. Read More Here. CashnGO to pay […]

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Regulatory Update – 28 August

Australian Securities and Investments Commission Are you ready for the new director ID requirements? The Treasury Laws Amendment (Business Registries Stabilisation Uplift) Act 2026 will require company directors from July next year to have identification numbers. This is to improve Australia’s business registers and reduce the risk of fraud. Read More Here. Need some more […]

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Regulatory Update – 14 August

Australian Securities and Investments Commission Car Insurance consumers need more clarity. ASIC Report 838 Road testing transparency in car insurance found that while insurance premiums have been rising without any transparency to consumers about how these premiums are calculated. Read More Here. Director’s duties and continuous disclosures breached. The Federal Court found that Mcpherson’s Limited failed […]

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Regulatory Update – July 31

Australian Securities and Investments Commission Finding the beneficial owner. The conduct regulator has made it easier to comply with the new enhanced beneficial ownership reforms which will improve transparency around identifying the ultimate beneficial holder. Read More Here. $55 million in penalties for misleading customers. Harvey Norman and Latitude Financial will pay $35 million and […]

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Regulatory Update – July 17

  Australian Securities and Investments Commission NAB WealthHub Failures in regulatory data reporting. National Australia Bank’s WealthHub will pay just over $1 million in fines for failing to the report accurate regulatory data between 2014 and 2024. ASIC said in an official statement, “… the MDP [Markets Disciplinary Panel] identified that WealthHub repeatedly failed to […]

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Regulatory Update – July 3

Australian Securities and Investments Commission First criminal charge under the creditor defeating disposition. ASIC alleges that Giuseppe DeFrancesco redirected the proceeds of the sale of Jasa Dining to himself. The regulator also alleges that DeFrancesco offered money to someone ‘withhold true witness testimony’. Read More Here. Mercer Super to pay over $10 million in penalties. […]

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Regulatory Update – June 19

Australian Securities and Investments Commission HSBC to pay a $35 million penalty. HSBC has been ordered to pay a $35 million penalty for failing to have systems in place to protect their customers from scams and failing to adequately support scam victims. Read More Here. Super trustees must strengthen operational resilience. ASIC and the Australian […]

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Regulatory Update – June 5

Australian Securities and Investments Commission $26 million in penalties for failing financial hardship customers.  Westpac to pay a $26 million penalty for not responding to more than 200 online hardship requests for almost six years. ASIC Deputy Commissioner Sarah Court said that the bank failed these customers when they were at their most vulnerable. Read More […]

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