ASIC consults on ‘sunsetting’ class order about reporting requirements for Australian financial services licensees who are natural persons

From

ASIC has released a consultation paper proposing to remake ASIC Class Order [CO 03/748] Reporting requirements under s989B. This is due to expire (‘sunset’) on 1 October 2017. This instrument grants... Read more continue reading

The Hon. Kelly O’Dwyer MP launches Financial Literacy Annual Highlights Report

From

The Minister for Revenue and Financial Services, the Hon. Kelly O’Dwyer MP yesterday launched the National Financial Literacy Strategy Annual Highlights Report 2015-16 at an event at Parliament House in Canberra.... Read more continue reading

ASIC launches First Business App to help young people starting a small business

From

ASIC Chairman, Greg Medcraft yesterday launched a new free mobile app – First Business by ASIC’s MoneySmart – to support young Australians starting a small business. First Business was developed by... Read more continue reading

ASIC consults on consolidating ASIC market integrity rules

From

ASIC has released a consultation paper proposing to consolidate and clarify Australia’s market integrity rules. There are currently 14 market integrity rule books that set out obligations and prohibitions applying... Read more continue reading

Superannuation funds to start disclosing subplan information on websites from 1 July 2017

From

ASIC has written to trustees of superannuation funds with employer subplans reminding them of the requirement to publicly disclose transparency information for those subplans from 1 July 2017. The requirement... Read more continue reading

How can Robo-advice meet Australia’s strict regulatory best interest duty requirements

From

Australia has the one of the strongest regulatory environments in the world. “Operating under the Australian regime automatically provides confidence to investors and consumers. Most importantly ASIC regulates towards consumer-first... Read more continue reading

ASIC releases world-first licensing exemption for fintech businesses

From

ASIC has released class waivers to allow eligible financial technology (fintech) businesses to test certain specified services without holding an Australian financial services or credit licence. ASIC Commissioner John Price... Read more continue reading

Instability, ‘financial pornography’ and the fear driving financial advice

From

A national group of financial advisory firms, Certainty Advice Group, predicts the populism sweeping aside long-held assumptions about financial security will change the financial advice landscape forever. This theme is... Read more continue reading

ASIC reports on decisions to cut red tape – April 2016 to September 2016

From

ASIC has released its latest report outlining decisions on relief applications, highlighting ASIC’s efforts to reduce red-tape and achieve a practical, positive outcome for companies seeking some regulatory flexibility. The... Read more continue reading

ASIC calls on preparers to focus on useful and meaningful financial reports

From

ASIC has called on  companies to provide information for users of financial reports that is  useful and meaningful ahead of the preparation of reports for the period ended 31 December... Read more continue reading