ASIC amends financial advice and capital raisings COVID 19 instruments

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ASIC has registered an amending instrument to specify an end date for three COVID-19 related instruments. The ASIC Corporations (Amendment) Instrument 2020/565 makes the following amendments: The earlier amendment to the ASIC Corporations... Read more continue reading

ASIC’s Interim Corporate Plan for 2020-21

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ASIC has published its Interim Corporate Plan, which sets out five priorities to tackle the challenges presented by the COVID-19 pandemic: protecting consumers from harm at a time of heightened... Read more continue reading

How Covid-19 has affected reforms to wealth businesses

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With the ongoing COVID-19 pandemic, it’s fair to say that regulators and businesses have shifted their priorities. Timelines for legislative reforms driven by the Hayne Royal Commission and licence applications... Read more continue reading

ASIC sets expectations for maintaining equity market resilience

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ASIC has outlined its expectations for all market participants to act appropriately to ensure Australia’s equity markets remain resilient. In a letter published last week [14 May, 2020], all equity market participants... Read more continue reading

ASIC secures over $160 million in remediation for junk consumer credit insurance

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ASIC announced the final tranche in over $160 million in remediation for consumers sold junk consumer credit insurance (CCI). This follows ASIC’s 2019 report (REP 622) on the sale of... Read more continue reading

Delivering documents electronically

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With the ongoing Coronavirus pandemic, more businesses are communicating with clients electronically. But what are your options when you need to supply or sign documents? Financial professionals must give their... Read more continue reading

The revised reform timetable for general insurance

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Regulators have shifted their priorities to deal with the COVID-19 pandemic. This means significant reforms and legislative change to general insurance may be delayed. We outline what’s changed and when... Read more continue reading

ASIC establishes a national expert group on young people and money

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This week, the Organisation for Economic Co-operation and Development (OECD) released the 2018 Programme for International Student Assessment (PISA) financial literacy results. The survey measures how well 15-year-olds understand commonly... Read more continue reading

ASIC sends letters to general and life insurers about the current COVID-19 environment

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ASIC is committed to working constructively and pragmatically with general and life insurers to help Australians affected by the COVID Pandemic to recover, and to aid the general functioning of... Read more continue reading

Implementation of early access to superannuation

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The implementation of the early access to superannuation for those financially affected by COVID-19 is progressing well. The ATO are working closely with super funds to enable them to process... Read more continue reading