Following consultation, ASIC releases new regulatory framework for foreign financial services providers

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ASIC has released its new regulatory framework for foreign financial services providers (FFSPs) providing financial services to Australian wholesale clients. ‘Our new regulatory framework facilitates Australian wholesale access to foreign... Read more continue reading

ASIC consults on proposals about advice fee consents and independence disclosure

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ASIC has issued Consultation Paper 329 Implementing the Royal Commission recommendations: Advice fee consents and independence disclosure (CP 329). CP 329 seeks feedback on: draft legislative instruments that deal with advice... Read more continue reading

ASIC update on enforcement and regulatory work

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ASIC has provided the latest six monthly update on its enforcement and regulatory work since September 2019. The update covers our implementation of the recommendations of the Financial Services Royal Commission... Read more continue reading

Chaos theory – how APRA’s Disability Income Proposals and the Best Interests Duty are connected

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Introduction “Does the flap of a butterfly’s wings in Brazil set off a tornado in Texas?” This was the question posed by Edward Lorenz[1], an American meteorologist and a pioneer... Read more continue reading

ASIC and APRA welcome law reform on superannuation regulator roles

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The Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) have jointly welcomed the proposed legislative reforms increasing the role of ASIC in superannuation. In response to... Read more continue reading

ASIC and APRA welcome law reform on superannuation regulator roles

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The Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) have jointly welcomed the proposed legislative reforms increasing the role of ASIC in superannuation. In response to... Read more continue reading

Cashing in on payments!

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Payments are a central part of everyday life but the regulations that govern them are complex. If Australia is to be a leader in the fintech space, it’s time for... Read more continue reading

Advisers now have help to avoid getting caught out by the new FASEA Code

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The FASEA Code of Ethics Standard is now in force as of 1 January 2020, and the challenge for advisers is not just to pass the exam but also to... Read more continue reading

ASIC’s draft DDO guidelines could place significant burden on product issuers and distributors

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ASIC’s draft guidance on product Design and Distribution Obligations (DDO) entails ‘significant’ change regarding arrangements between financial product issuers and distributors, according to Harry New, partner in the financial services... Read more continue reading

ASIC review of 30 June 2019 financial reports

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ASIC has announced the results from its review of the 30 June 2019 full-year financial reports of 200 entities. Arising from the review, ASIC has made inquiries of 47 entities... Read more continue reading