ASIC releases FY 2023–24 financial reporting and audit report and launches auditor independence surveillance

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ASIC has released findings from its financial reporting and audit surveillance for the 12 months to 30 June 2024, and announced a proactive surveillance focused on auditors’ compliance with independence... Read more continue reading

ASIC warns governance gap could emerge in first report on AI adoption by licensees

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ASIC is urging financial services and credit licensees to ensure their governance practices keep pace with their accelerating adoption of artificial intelligence (AI). The call comes as ASIC’s first state... Read more continue reading

ASIC annual report underscores transformation

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ASIC’s program of transformation continued in 2023–24, according to the agency’s latest annual report. ASIC Chair Joe Longo said the report highlighted a range of key regulatory and enforcement outcomes... Read more continue reading

New mandatory climate disclosure laws critical for investors to navigate the climate transition

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Global index provider Scientific Beta has welcomed new Australian laws which will force large organisations including financial institutions to adopt mandatory climate disclosures.  ASIC has urged businesses to prepare for... Read more continue reading

Appointments to the ASIC Executive Leadership team

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The Australian Securities and Investments Commission’s program of transformation work has continued with key appointments to its senior executive leadership team. Regulation and Supervision Following an international search, ASIC Chair... Read more continue reading

Investor alert: Reports of stolen shares due to identity theft on the rise

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ASIC is warning investors to be on high alert following a significant increase in reports of stolen shares since August 2024 from people who have had their personal identity compromised.... Read more continue reading

Division 296 Bill bad policy – especially taxing unrealised capital gains

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The fate of the controversial Division 296 Bill, which imposes an additional 15 per cent tax on the earnings of superannuation balances exceeding $3 million, is now with the Senate... Read more continue reading

CPD: ASIC’s enforcement priorities – practical adviser implications

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ASIC is fundamentally a consumer protection agency. The various functions it performs, including market oversight, surveillance, enforcement and education, ultimately all roll up to one core purpose – ensuring good... Read more continue reading

‘Greenruling’ – greenwashing risks on the rise

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The Australian regulator is taking an increasingly aggressive stance against greenwashing, having issued approximately $11.4 million in penalties within the funds management industry since 2022, and this amount is set... Read more continue reading

ASIC receives new powers under financial market infrastructure reforms

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ASIC welcomes the new Australian financial market infrastructure (FMI) laws, which introduce new powers essential to ensuring a stable and efficient Australian financial system. Financial market infrastructures (FMIs) are the... Read more continue reading