Category: Regulatory Updates

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 […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

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 […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

Regulatory Update – May 22

Australian Securities and Investments Commission Australia, a laboratory of financial innovation. The Digital Finance Cooperative Research Centre (DFCRC) conducted research on the impact of the Regtech and Fintech innovation across seven jurisdictions.  This report commissioned this report to facilitate ‘responsible innovation’. Read More Here. Equity Trustees facing allegations of failing to adequately protect members.  ASIC […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

Regulatory Update – May 8

Australian Securities and Investments Commission Telstra Internal dispute failures. The Federal Court found that between 2021 and 2023 Telstra Servicing failed to respond to 30 percent of complaints within the mandatory 45-day period. Read More Here. Canva late on financial reporting.  Four companies within the Canva Group have been issued with $729, 000 in infringements […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

Regulatory Update – April 24

Australian Securities and Investments Commission Continuous disclosure case dismissed. The Federal Court of Australia has dismissed ASIC’s claims continuous disclosure breach against NUIX. The regulator alleged that the software intelligence company mislead investors in its initial public offering in early 2021.  Read More Here. Market Structure Reforms. ASIC seeking feedback on three regulatory guides in […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

Regulatory Update – April 10

Australian Securities and Investments Commission $4 million for Continuous disclosure breaches.   The Federal Court of Australia has ordered Electro Optic Systems Holdings Limited to pay $4 million in penalties for not disclosing a major downgrade of its revenue forecast in 2022 for over 3 months.  Read More Here. Tackling AI-powered scams. ASIC has removed more […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

Regulatory Update – March 27

Australian Securities and Investments Commission   Protecting Superannuation. ASIC Commissioner Alan Kirkland told attendees of the Law Council of Australia’s Superannuation Conference in Tasmania that “… protecting super is the job of everyone in the system”. Read More Here. Financial Advice more accessible. ASIC’s new Moneysmart website has been designed to be more accessible and […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

Regulatory Update – March 13

Australian Securities and Investments Commission Reduced regulatory complexity. ASIC withdraws Regulatory Guide 64 Failure to Lodge and Regulatory Guide 40 Good transaction fee disclosure for bank, building society and credit union deposit and payments products to reduce regulatory complexity. Read More Here. The role of Super in the financial sector. ASIC Commissioner Simone Constant said […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

Regulatory Update – February 27

Australian Securities and Investments Commission Are you up to date with the financial advice requirements? ASIC released a list of all the developments in the financial advice space, including a new review of financial advice lead generation. Read More Here.Employee entitlement schemes info sheet.  ASIC released Information Sheet 295 Employee Entitlement Schemes, which outlines their […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]

Regulatory Update – February 13

Australian Securities and Investments Commission  New ASIC Chair from June. Sarah Court, who has been the ASIC Deputy Chair for five years, will be the new ASIC Chair from the first of June. Read More Here.  Super industry to better support scam victims. ASIC Commissioner Simone Constant is calling on the superannuation industry to move […]

Oops!

This event or resource is EXCLUSIVELY available for ACI Members.  Please make sure you’re logged in to your member account to register or access this content.  Need help? Contact [email protected]