ASIC provides update on further reviews into fees-for-no-service failures

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ASIC yesterday released an update on the fees for no service (FFNS) further review programs undertaken by six of Australia’s major banking and financial services institutions. ASIC’s ongoing supervision of

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ASIC update on implementation of Royal Commission recommendations

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ASIC yesterday provided an update on its planned actions responding to the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Royal

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ASIC to pursue harsher penalties after laws passed by Senate

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ASIC will shortly be able to pursue harsher civil penalties and criminal sanctions against banks, their executives and others who have breached corporate and financial services law, after a significant

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ASIC announces preparations for Brexit

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The United Kingdom (UK) is scheduled to leave the European Union (EU) on 29 March 2019 (‘Brexit’). The terms of the UK’s exit remain subject to ongoing negotiation between the UK

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Statement from ASIC Chair James Shipton on the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry

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ASIC has welcomed the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and acknowledged its important work. ASIC will consider the report

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Firms must notify ASIC of their AFCA membership by end of November before late fees apply

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Financial firms who are members of the Australian Financial Complaints Authority (AFCA) must notify ASIC of their AFCA membership by today, Friday 30 November 2018. Licensees who fail to do

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ASIC puts spotlight on the rapidly growing buy now pay later industry

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ASIC has released its first review of the rapidly growing buy now pay later industry. The review of this diverse and evolving market has found that buy now pay later

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Financial advisers urged to ensure registration by 31 December 2018

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The Australian Securities and Investments Commission (ASIC) is reminding financial advisers, who are currently authorised, to make sure that they are on ASIC’s Financial Advisers Register no later than 31 December 2018,

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ASIC begins consultation on updated competence requirements for advice licensees

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The Australian Securities and Investments Commission (ASIC) is inviting input on proposed updates to our organisational competence requirements for advice licensees through the release of a consultation paper yesterday. ASIC

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Self-managed superannuation funds auditor enforcement actions

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ASIC has deregistered, suspended or imposed conditions on 101 self-managed superannuation funds (SMSF) auditors for audit quality and independence issues or on fit and proper person criteria since the registration

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