ASIC announces the initial members of the Financial Services and Credit Panel

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Following expressions of interest from leaders in the financial services and consumer credit industry to become members of the Financial Services and Credit Panel (‘FSCP’), ASIC has selected for appointment... Read more continue reading

APRA and ASIC publish key industry data on life insurance claims

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APRA and ASIC yesterday released initial industry-aggregate results from round one of a new data collection pilot on life insurance claims. Following a review by ASIC last year, the two... Read more continue reading

Citibank refunds $3.3 million to credit card customers

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Citibank will refund more than $3.3 million to around 39,500 current and former customers for failing to refund customers when credit card accounts were closed with an outstanding credit balance.... Read more continue reading

China and Australia to cooperate on fintech

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The China Securities Regulatory Commission (‘CSRC’) and Australian Securities and Investments Commission (‘ASIC’) have entered into an agreement to promote innovation in financial services in their respective markets. The Information Sharing Co-operation... Read more continue reading

ASIC overhauls funds management guidance

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ASIC has released a suite of new and updated guidance for the funds management industry for consultation. The six new and updated regulatory guides have been developed in advance of... Read more continue reading

ASIC releases update to evidence metrics for performance reporting

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ASIC has released updated evidence metrics to report against six common key performance indicators (KPIs) in the Australian Government’s Regulator Performance Framework (Framework). Following ASIC’s first self-assessment against the Framework... Read more continue reading

The FMA and ASIC confirm trans-Tasman collaborative approach to fintech

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The Financial Markets Authority (FMA) and the Australian Securities and Investments Commission (ASIC) have re-affirmed their commitment to collaboration and cooperation on the expanding opportunities in fintech and innovation. The... Read more continue reading

ASIC committed to improving the financial capabilities of Australians

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The National Financial Literacy Strategy sets out a plan to strengthen the financial capabilities of all Australians with the aim of improving financial outcomes. A key feature of the National... Read more continue reading

When is it fit and proper for ASIC to cancel licences?

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The ASIC Enforcement Review Taskforce released its third Position and Consultation paper in June 2017 (the Position Paper). The paper explores how to strengthen ASIC’s licensing powers. Over the next five posts... Read more continue reading

ASIC update on interest-only home loans

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ASIC has provided an update on its targeted review of interest only home loans. Announced in April 2017, the review was a targeted industry surveillance examining whether lenders and mortgage... Read more continue reading