ASIC publishes new regulatory guidance for mortgage brokers

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ASIC has published regulatory guidance to assist in the application of the new best interests duty for mortgage brokers, which comes into effect in 2021. The new obligations were legislated

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25 Jun 2020

Investment funds told to correct advertising and disclosure

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ASIC has put responsible entities (REs) of all managed investment schemes (MISs) ‘on notice’ that they must ensure their investment fund advertising provides clear, balanced and accurate information. This follows

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17 Jun 2020

ASIC amends financial advice and capital raisings COVID 19 instruments

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ASIC has registered an amending instrument to specify an end date for three COVID-19 related instruments. The ASIC Corporations (Amendment) Instrument 2020/565 makes the following amendments: The earlier amendment to the ASIC Corporations

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15 Jun 2020

ASIC’s Interim Corporate Plan for 2020-21

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ASIC has published its Interim Corporate Plan, which sets out five priorities to tackle the challenges presented by the COVID-19 pandemic: protecting consumers from harm at a time of heightened

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12 Jun 2020

ASIC sets expectations for maintaining equity market resilience

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ASIC has outlined its expectations for all market participants to act appropriately to ensure Australia’s equity markets remain resilient. In a letter published last week [14 May, 2020], all equity market participants

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18 May 2020

ASIC secures over $160 million in remediation for junk consumer credit insurance

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ASIC announced the final tranche in over $160 million in remediation for consumers sold junk consumer credit insurance (CCI). This follows ASIC’s 2019 report (REP 622) on the sale of

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15 May 2020

ASIC establishes a national expert group on young people and money

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This week, the Organisation for Economic Co-operation and Development (OECD) released the 2018 Programme for International Student Assessment (PISA) financial literacy results. The survey measures how well 15-year-olds understand commonly

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12 May 2020

Retail investors at risk in volatile markets

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ASIC analysis of markets during the COVID-19 period has revealed a substantial increase in retail activity across the securities market, as well as greater exposure to risk. We found that

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08 May 2020

ASIC sends letters to general and life insurers about the current COVID-19 environment

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ASIC is committed to working constructively and pragmatically with general and life insurers to help Australians affected by the COVID Pandemic to recover, and to aid the general functioning of

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29 Apr 2020

ASIC moves against SMSF auditor misconduct

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ASIC has acted to disqualify, suspend or add conditions to the registration of a number of auditors of self-managed superannuation funds (SMSFs). The actions followed ASIC concerns about failures to

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24 Apr 2020