ASIC’s annual report reveals strong growth in enforcement action and investigations and keen focus on strengthening markets

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ASIC has ramped up enforcement activity and commenced a significant body of work to address regulatory complexity and strengthen Australia’s markets, its latest annual report has shown. ASIC Chair Joe... Read more continue reading

ASIC finds many auditors failing to demonstrate compliance with auditor independence obligations

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Multiple auditors from audit firms of all sizes were unable to effectively demonstrate compliance with independence and conflict of interest obligations, a new ASIC review has revealed. The findings, outlined... Read more continue reading

CPD: Informed consent – when disclosure becomes true understanding

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Introduction Few issues are as central to effective, compliant financial advice as informed consent. Aside from being a foundational element of financial consumer protection, clients who understand the advice they... Read more continue reading

Review finds greater uplift needed in quality of super fund financial reports and audits

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ASIC’s first report into the financial reporting and audit of super funds has revealed inconsistent approaches to disclosing investments, limited disclosure of sponsorship and advertising expenses, and insufficient audit evidence... Read more continue reading

Treasury’s Draft Digital Asset Legislation a Turning Point for Australia

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The release of Treasury’s draft digital asset legislation marks a defining moment for Australia’s digital economy. For too long, businesses and investors have operated in a grey zone – keen... Read more continue reading

Treasury’s draft digital asset legislation – a pragmatic step forward for Australia’s crypto sector

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The release of Treasury’s draft digital asset legislation is a pragmatic step forward towards allowing Australia to become an innovator and powerhouse in the global crypto market, by providing greater... Read more continue reading

ASIC urges ongoing customer focus following welcome improvements in hardship support

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Lenders must continue to focus on improving hardship support for customers in financial distress. Despite significant improvements following last year’s landmark review, ASIC has ongoing concerns about hardship practices. ASIC... Read more continue reading

ASIC signals opportunity for industry to lift private credit standards

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In its latest update on Australia’s public and private markets[1], ASIC has called on industry bodies to lift their standards across Australia’s private credit sector following expert observations on better... Read more continue reading

ASIC Chair Joe Longo not seeking reappointment

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It has been an immense privilege to serve as Chair of ASIC and to have been given the opportunity to rebuild and renew the agency. In June this year, I... Read more continue reading

ASIC appoints new Chairs and members to the Markets Disciplinary Panel

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ASIC has announced the appointment of a new Chair, Deputy Chair, and three new members to the Markets Disciplinary Panel (MDP), and thanks five retiring members for their significant contribution. The... Read more continue reading