Singaporean and Australian regulators sign agreement to support innovative businesses

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The Monetary Authority of Singapore (MAS) and ASIC have signed an Innovation Functions Co-operation Agreement which aims to help innovative businesses in Singapore and Australia in their foray to the respective... Read more continue reading

Limited AFS licensing regime: Transitional arrangements end 30 June 2016

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ASIC has warned that from 1 July 2016, accountants must hold a limited Australian financial services (AFS) licence or be an authorised representative of a licence-holder or licensee in order to... Read more continue reading

ASIC smooths transition for responsible entities to implement new tax system for managed investment trusts

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ASIC has granted relief to assist responsible entities of registered schemes to allow them to make changes to their constitutions without automatically holding a members’ meeting. The relief will assist... Read more continue reading

ASIC releases its third licensing activity report

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ASIC yesterday published its third report on its approach to licence applications. Report 478 Overview of licensing and professional registration applications: July to December 2015 (REP 478) sets out recent regulatory outcomes... Read more continue reading

Innovation Hub: Regulatory sandbox proposal

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ASIC has provided a further update on its Innovation Hub (see 15-211MR for our previous update). ASIC’s Innovation Hub has now been operating for just over a year and is continuing... Read more continue reading

Perpetual bolsters offering for accountants ahead of licensing deadline

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Perpetual Private has announced a new partnership with Cowell Clarke Commercial Lawyers as part of its Accountants Partnership Program for independent accountants. The partnership will support accounting practices who choose... Read more continue reading

NAB welcomes ASIC action

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NAB has welcomed ASIC’s action against former NAB Financial Planning adviser, Gerard McCormack. Executive General Manager NAB Wealth Advice, Greg Miller, said Mr McCormack left NAB in September 2013 after concerns... Read more continue reading

Licence now – or in 2019

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With less than a month until ASIC’s soft licensing deadline, only 276 limited licence applications have been submitted and only 31% of these have been granted. Some accountants are waiting... Read more continue reading

ASIC guidance to employers about super

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ASIC has updated its MoneySmart website to help employers select a default superannuation fund for employees. ‘Super is a complex area, not just for individuals but for employers as well... Read more continue reading

Accountants: Seize the day or miss the boat on Limited AFSLs

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With only four months until the new regime for accountants working in the Self Management Superannuation Funds (SMSF) sector comes into effect, accountants need to seize the opportunity to obtain... Read more continue reading