ASIC may use AI to help with financial advice compliance monitoring

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Financial technology firm Padua predicts the corporate regulator ASIC could eventually use artificial intelligence (AI) in its compliance and audit checks of financial advisers as the use of AI applications... Read more continue reading

This year’s Budget is more about what isn’t included, not what is: FAAA

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Calls by the FAAA to fix the problems with the CSLR, ASIC funding levy, the financial advice exam cost and ATO portal access have been ignored in this year’s Federal... Read more continue reading

ASIC calls on super trustees to improve gatekeeping of member savings

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ASIC is calling on superannuation trustees to renew efforts to protect members from unscrupulous operators amid evidence of inadequate oversight of advice fee deductions. A newly published ASIC report outlines key findings... Read more continue reading

Sophisticated and Wholesale investors – changes coming in 2024

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One of the most topical conversations around financial consumer protections is the forthcoming changes to the Sophisticated Investor Test. The subject of much scrutiny and debate since its introduction in... Read more continue reading

Artificial Intelligence and other ESG regulation is on the way

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The launch of ChatGPT has led to heightened investor attention on generative AI over the past year and pushed AI regulation into the spotlight for governments around the world, notes... Read more continue reading

Changes to ASIC Executive Leadership Team

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The Australian Securities and Investments Commission has confirmed a number of changes to its senior executive leadership team. Chief Executive Officer ASIC Chair Joe Longo has accepted a request from... Read more continue reading

Are brokers, advisers and investors ready for new settlement rules?

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New changes to shorten the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one (T+1) are coming into play... Read more continue reading

ASIC calls on industry to improve oversight of Choice super performance and address issues

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An ASIC review has called out the risk to retirement outcomes for Australians, of holding their superannuation in persistently underperforming options, and called on super trustees, financial advisers, and financial... Read more continue reading

Mandatory climate reporting proposal likely to hit roadblocks

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The proposal requiring financial services businesses and managed funds to include climate metrics in their financial reporting is leading to complications, particularly around consistency in reporting standards, says Zenith Investment... Read more continue reading

Investment Trends acknowledges the Government’s response to the Quality of Advice Review

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Investment Trends acknowledges the government’s final response to the Quality of Advice Review (QAR). The roadmap titled “Delivering Better Financial Outcomes” is designed to increase the availability and affordability of... Read more continue reading