ASIC publishes submissions and announces public hearings on responsible lending guidance

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ASIC will hold public hearings as part of the wider public consultation on its guidance on the responsible lending obligations. This consultation commenced in February 2019, and ASIC has received... Read more continue reading

APRA and ASIC publish latest data on life insurance claims and disputes

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The Australian Prudential Regulation Authority (APRA) has released its Life Insurance Claims and Disputes Statistics publication, covering a rolling 12-month period from 1 January 2018 to 31 December 2018. The data is... Read more continue reading

ASIC: Major financial reporting changes and other focuses

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Announcing its focus areas for 30 June 2019 financial reports of listed entities and other entities of public interest with many stakeholders, ASIC has called on companies to focus on... Read more continue reading

ASIC approves AFCA Rules change for legacy complaints

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ASIC has approved changes to the Australian Financial Complaints Authority (AFCA) Rules which give effect to the AFCA authorisation condition introduced by Government on 19 February 2019. Under the Government’s... Read more continue reading

Response to APRA directions and conditions on AMP Super licensees

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AMP notes this morning’s announcement by the Australian Prudential Regulation Authority (APRA) regarding the imposing of directions and additional conditions on the Registrable Superannuation Entity (RSE) licences of our superannuation... Read more continue reading

ASIC releases market integrity report

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ASIC has released its latest report on market integrity for the period 1 July to 31 December 2018. The report highlights some of the activities undertaken to safeguard Australia’s financial markets,... Read more continue reading

ASIC updates information for businesses on ICOs and crypto-assets

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ASIC has released new information to help businesses involved with initial coin offerings (ICOs) and crypto-assets to consider their legal obligations and satisfy themselves they are operating lawfully. ASIC has... Read more continue reading

Royal Commission response: Design and distribution obligations

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In the last sitting week of parliament, the first piece of legislation responding to the Hayne Report was passed. New product design and distribution obligations will apply to insurers (and... Read more continue reading

Can’t get mandatory PI cover? Here’s what to do

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Some financial services and credit licence applications are being delayed because licensees simply cannot buy professional indemnity (PI) insurance. We outline what to do if this is happening to you.... Read more continue reading

New credit card rules affect all lenders and brokers

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This is the first post in a two part series on the new responsible lending rules for credit cards. Tighter new rules mean that credit card providers must assess credit... Read more continue reading