Cost of fraud in Asia-Pacific markets is high according to study

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LexisNexis® Risk Solutions has released its 2021 True Cost of Fraud™ APAC Study covering the retail, ecommerce, financial services and lending sectors for Australia, Hong Kong, India and Japan. The... Read more continue reading

APIR launches TMD-hosting functionality

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Financial services utility, APIR Systems, has launched new functionality to provide clients with the ability to store Target Market Determinations (TMDs), ahead of the impending Design and Distribution Obligations (DDO)... Read more continue reading

A winter change is coming – fee consent and lack of independence

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Courtesy of the latest round of Royal Commission legislation[1], from 1 July 2021 financial advice firms need to update their Financial Services Guides (FSGs), Ongoing Service Agreements and Financial Disclosure Statements (FDSs). The... Read more continue reading

AMP acknowledges proceedings commenced by ASIC

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AMP acknowledges the civil proceedings brought by ASIC in the Federal Court in relation to alleged breaches concerning the deduction of life insurance premiums and advice service fees from the... Read more continue reading

ASIC review finds retail managed funds responded well to COVID-19 challenges in 2020

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An ASIC review of a targeted selection of retail managed funds found that they did not face serious investor liquidity challenges during the height of COVID-19 market disruption, and that... Read more continue reading

Controlling commutation of a child pension

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Husband (H) and wife (W) are members of a self-managed superannuation fund, and as part of their estate planning, they want to direct the trustee of the fund to set... Read more continue reading

ASIC Commission welcomes appointment of new Chair and Deputy Chair

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“On behalf of the ASIC Commission and team I’d like to congratulate Joe Longo on his appointment as the next ASIC Chair and Sarah Court as an additional Deputy Chair”,... Read more continue reading

ASIC extends temporary financial advice relief measure in COVID-19 instrument

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ASIC has announced that it will extend one of three temporary relief measures designed to help the financial advice industry provide consumers with affordable and timely advice during the COVID-19... Read more continue reading

ASIC warns time is fast running out for insurance claims handling AFS licence applications

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ASIC has called on insurance claims handling firms to lodge licence applications (new and varied) as soon as possible, and by no later than 7 May 2021. Since 1 January... Read more continue reading

Breach reporting is about to become more onerous

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A new breach reporting regime will commence on 1 October 2021 and it will be more onerous on licensees than ever before. One of the most notable changes is that... Read more continue reading