Category: Regulatory Updates

Regulatory Update – 12 September

Our members‑only Regulatory Update curates key announcements, guidance and enforcement activity with practical context for compliance, risk and governance professionals to help keep you informed with the latest in regulation, compliance and risk. Australian Securities and Investments Commission Simplifying Regulation. ASIC has announced the first phase of a multi-year process to simplify regulation and has […]

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Regulatory Update – 29 August

Our members‑only Regulatory Update curates key announcements, guidance and enforcement activity with practical context for compliance, risk and governance professionals to help keep you informed with the latest in regulation, compliance and risk.   Australian Securities and Investments Commission  Customer-first sales practices. ASIC Commissioner Alan Kirkland wants life insurance companies to make a greater effort […]

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Regulatory Update – 15 August

Our members‑only Regulatory Update curates key announcements, guidance and enforcement activity with practical context for compliance, risk and governance professionals to help keep you informed with the latest in regulation, compliance and risk. Australian Securities and Investments Commission Innovation in capital markets. ASIC is working with the Australian government to increase innovation and productivity in […]

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Regulatory Update – 1 August

Australian Securities and Investments Commission Financial advice firm faces allegations of cyber security failures. ASIC has taken Fortnum Private Wealth to the NSW Supreme Court over allegations of poor cybersecurity policies. This comes after a cyber breach impacted over 9000 of the firm’s clients two years ago. Read More Here. Debt management firms are under […]

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Regulatory update – 18 July

Australian Securities and Investments Commission Updates to the product disclosure regulatory guide. ASIC is inviting feedback on Regulatory Guide 168 Disclosure: Product Disclosure Statements (and other disclosure obligations), to reduce regulatory complexity. Read More Here. Have your say on disclosure relief. ASIC is looking for feedback on six different legislative instruments that could ease advertising restrictions aimed at foreign markets. Read More […]

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Regulatory update – 4 July

Australian Securities and Investments Commission Regulator focused on Financial Advice. ASIC Commissioner Alan Kirkland says the advice and investment management sector needs to improve its practices. Read More Here. Managed investments guidance. ASIC has made updates to Regulatory Guide 132 Funds management: Compliance and oversight, and Regulatory Guide 136 Funds management: Discretionary powers.  Read More Here. More relief for reportable situations. After recent consultation, […]

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Regulatory update – 20 June

Australian Securities and Investments Commission Finfluencers Beware. ASIC has issued warnings to 18 finfluencers as part of a global effort to tackle those promoting high-risk products. Read More Here.  Super Trustees need to be customer-focused. ASIC Chair Joe Longo calls on the super industry to improve their business practices to support customers. Read More Here. Inquiry into the ASX. ASIC will […]

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Regulatory update – 6 June

Australian Securities and Investments Commission Compliance deficiencies in the Managed Investment Industry. An ASIC assessment has found that most responsible entities failed to adequately address critical requirements of the design distribution obligations and internal dispute resolution, and reportable situations schemes. Read More Here.  Getting sustainability reporting right. ASIC is committed to helping the next two groups of reporting entities get […]

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Regulatory update – 23 May

Australian Securities and Investments Commission Snaffle is alleged to have inflated prices. Snaffle, a consumer goods supplier,  is alleged to have overcharged for household goods and household appliances. Read More Here.    Resimac allegedly applies a ‘one size fits all’ approach to hardship cases.  ASIC alleges Resimac applied a blunt-edged approach to vulnerable customers and breached their obligations […]

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Regulatory update – 9 May

Australian Securities and Investment Commission Macquarie Bank is facing additional conditions for system failures. Macquarie Bank is facing additional conditions for what ASIC commissioner Simone Constant calls ineffective supervision, weak compliance and change management. Read More Here.  The new ASIC portal for licensees is here.  Earlier this month, ASIC launched the new portal for Australian financial services […]

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