ASIC reports on corporate finance regulation – January to June 2019

From

ASIC’s latest report on its oversight of corporate finance activity between January to June 2019 has been published today and includes an update on specific focus areas for the next... Read more continue reading

ASIC extends relief for foreign financial services providers

From

ASIC has extended to 31 March 2020 licensing relief for foreign financial services providers (FFSPs) to allow them to provide certain financial services to Australian wholesale clients without needing to... Read more continue reading

ASIC update on Royal Commission implementation

From

ASIC has provided its second update on its actions in response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Royal Commission). The Update... Read more continue reading

ASIC makes product intervention order banning short term lending model to protect consumers from predatory lending

From

ASIC has used its product intervention power to ban a model of lending in the short term credit industry which has been found to cause significant consumer detriment. In its... Read more continue reading

ASIC commences court action against Select AFSL over phone sales of life insurance

From

ASIC has commenced civil penalty proceedings in the Federal Court against Select AFSL Pty Ltd (Select), BlueInc Services Pty Ltd (BlueInc), Insurance Marketing Services Pty Ltd (IMS) and director Russell... Read more continue reading

Don’t be blown off your feet by the new whistleblower protections

From

New whistleblower protections expand who is protected and what they can disclose. This regime applies to regulated companies and financial service providers including banks, life companies, general insurers and superannuation... Read more continue reading

ASIC research highlights the importance of reforms for mortgage brokers and home lending

From

ASIC has released a report Looking for a mortgage: Consumer experiences and expectations in getting a home loan. As part of this research, ASIC followed over 300 consumers in the... Read more continue reading

Consumers see value in financial advice, but lack of trust remains an issue

From

New ASIC consumer research released reveals the barriers faced by consumers when considering financial advice. ASIC’s Report 627, Financial advice: What consumers really think (REP 627) presents independent research into consumer experiences of,... Read more continue reading

When can financial advisers recommend a switch to an in-house product?

From

There is a conflict any time a financial adviser recommends an in-house product, but the conflict can be managed. ASIC has determined that conflicts with in-house products do exist In... Read more continue reading

Details for public hearings on ASIC’s responsible lending guidance announced

From

ASIC will hold public hearings in Sydney on the 12th of August and Melbourne on the 19th of August. The hearings are part of the wider public consultation on ASIC’s... Read more continue reading