Managed funds industry invited to provide feedback on the Asia Region Funds Passport

From

ASIC is inviting the Australian funds management industry to contribute to a review of the Asia Region Funds Passport (ARFP) through a short survey. The ARFP is a multilateral framework

continue reading

Licensing and professional registration activities – 2022 update

From

ASIC has released its annual licensing report. Report 738 Licensing and professional registration activities: 2022 update (REP 738) outlines ASIC’s licensing and professional registration activities, discusses new and proposed changes to our

continue reading

ASIC signs Consultation Agreement with Financial Markets Standards Board

From

ASIC has signed a Consultation Agreement (Agreement) with the Financial Markets Standards Board (FMSB) to promote global standards for fair and effective wholesale financial markets. The Agreement formalises ASIC’s active

continue reading

ASIC helps insurers to respond to family violence

From

ASIC has granted relief to exempt insurers from providing certain notifications where doing so creates risks of family violence. The relief is outlined in the legislative instrument, ASIC Corporations (Cash Settlement

continue reading

ASIC publishes updated and expanded remediation guidance

From

Over the past six years ASIC has overseen at least $5.6 billion in remediation for an estimated seven million Australian consumers for failures identified across the financial system. Around a

continue reading

ASIC review finds room for improvement remains with life insurance claims handling

From

ASIC’s review of nearly 4800 individual disability income insurance (IDII) claims received between 1 January and 30 June 2021 has found more work is needed by insurers to ensure that

continue reading

ASIC warns brokers considering high-risk offers to retail investors

From

ASIC is warning brokers to be careful about or reconsider offering high-risk products and services to retail investors, such as securities lending, crypto-assets and offers of ‘zero’ or ‘low-cost’ brokerage

continue reading

Super trustees urged to improve effectiveness of target market determinations

From

ASIC is calling on superannuation trustees to review and if necessary improve the effectiveness of target market determinations (TMD) for their products, after a sample review of trustee compliance found

continue reading

ASIC’s priorities for 2022–26

From

ASIC has released its Corporate Plan, outlining its strategic priorities for the next four years and its plan of action for the year ahead. Chair Joe Longo said, ‘The plan identifies work

continue reading

ASIC clarifies the treatment of incidental retail cover as part of business insurance contracts

From

ASIC has issued relief to insurers and brokers that clarifies their obligations when offering retail insurance as part of bundled business insurance contracts. ASIC has made a legislative instrument, “ASIC

continue reading