APRA and ASIC commence joint administration of the new Financial Accountability Regime

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The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have published an information package to support the financial services industry in implementing the Financial Accountability

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Licensing and professional registration activities – 2023 ASIC update

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ASIC has released its annual licensing report today. Report 772 Licensing and professional registration activities: 2023 update (REP 772) outlines ASIC’s licensing and professional registration activities, discusses new and proposed changes

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ASIC issues new legislative instruments for financial resource requirements and platforms

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ASIC has released four new legislative instruments and updated its guidance regarding the financial resource requirements that apply to some categories of Australian financial services licensees and platforms. The new

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ASIC focuses on protecting vulnerable consumers and small businesses in 2023-24

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ASIC will take further enforcement action to protect Australian consumers and small businesses in an environment where scams, digitally-enabled misconduct and predatory lending practices are increasingly prevalent. Releasing ASIC’s latest Corporate

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ASIC welcomes appointment of three Commissioners

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ASIC Chair Joe Longo has welcomed the Treasurer’s appointment of three new Commissioners to ASIC. The Treasurer has announced the appointment of Ms Katherine O’Rourke, currently a First Assistant Secretary at Treasury,

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ASIC review finds insurers can and should improve claims handling

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ASIC is calling on general insurers to improve their claims handling practices and resourcing after a review of home insurance claims found weaknesses across five key areas. ASIC’s Report 768 Navigating the

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ASIC extends transitional relief for foreign financial services providers

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ASIC is extending for a further 12 months the transitional relief for foreign financial services providers (FFSPs) from the requirement to hold an Australian financial services (AFS) licence when providing

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ASIC welcomes the establishment of an ASX Advisory Group and the appointment of Alan Cameron AO as Independent Chair

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ASIC Chair Joe Longo has welcomed the establishment of a new Advisory Group to advise ASX Clear and ASX Settlement on strategic clearing and settlement issues. Importantly, this includes input

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APRA and ASIC commence early consultation on FAR

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The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have released key materials for consultation, to support the implementation of the Financial Accountability Regime (FAR)

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Review finds super trustees need to improve retirement outcomes planning

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A thematic review of how superannuation trustees are supporting their members under the Retirement Income Covenant has found that trustees need to make more progress to enhance retirement outcomes. The

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