ASIC calls for expressions of interest for membership of Financial Services and Credit Panel

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The Australian Securities and Investments Commission is calling for expressions of interest from financial services and consumer credit industry participants who are interested in becoming members of the new ASIC... Read more continue reading

Interesting change of SMSF trustee case

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A court has upheld an informal removal and appointment of SMSF trustees. The background is about the control of a death benefit of a father. The legal issue was whether... Read more continue reading

ASIC extends partnership for digital investigation and analytics software

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The Australian Securities and Investments Commission has extended its partnership with Australian software company Nuix following a competitive tender process. The new contract forms part of ASIC’s expanding analytics and... Read more continue reading

ASIC targets unlicensed binary option mobile apps

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In March 2017, ASIC conducted a review of various mobile app stores focusing on apps associated with binary options trading. The review highlighted over 330 apps which were offered to... Read more continue reading

ASIC reports on Australian bank audits following Wells Fargo misconduct

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ASIC yesterday outlined the results of audits conducted by eight banks in Australia following the regulatory action taken in the United States against Wells Fargo Bank, N.A. (Wells Fargo) in... Read more continue reading

Abu Dhabi and Australia seal agreement on fintech cooperation

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The Abu Dhabi Global Market (‘ADGM’) Financial Services Regulatory Authority (‘FSRA’) and ASIC today signed a Cooperation Agreement which provides a framework for cooperation to support and understand financial innovation... Read more continue reading

ASIC consults on revised licence regime for domestic and overseas market operators

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ASIC is consulting on proposals to refine and update ASIC’s regulatory guidance on the licensing regime for financial markets. Consultation Paper 293 Revising the market licence regime for domestic and overseas... Read more continue reading

ASIC checks on limited AFS licence experience

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ASIC visited twenty limited Australian Financial Services (AFS) licensees during 2016 – 2017 to assess how they were operating under their new licences and to discuss and promote compliance with... Read more continue reading

ASIC consults on proposed financial benchmark regulatory regime

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ASIC is seeking feedback on proposed ASIC rules for the administration of licensed financial benchmarks and regulatory guidance on how we would administer the proposed financial benchmark regulatory regime. The... Read more continue reading

ASIC consults on new client money reporting rules

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ASIC has released a consultation paper proposing to make new client money reporting rules (client money rules) for Australian financial services (AFS) licensees that hold ‘derivative retail client money’ within... Read more continue reading