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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30 Nov 2018

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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29 Nov 2018

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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26 Nov 2018

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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09 Nov 2018

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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29 Oct 2018

Financial firms yet to join Australian Financial Complaints Authority must act immediately

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More than 35,000 financial firms required to join the Australian Financial Complaints Authority (AFCA) have now joined the scheme. There are more than 300 licensed financial firms who are still

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26 Oct 2018

APRA and ASIC empower consumers with new reporting standard on life insurance claims

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Consumers will soon have access to high-quality, comparable data on life insurance claims and disputes after the Australian Prudential Regulation Authority (APRA) issued a new reporting standard to the industry.

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25 Oct 2018

ASIC updates guidance as crowd-sourced funding regime extends to proprietary companies

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ASIC has released updated regulatory guides to coincide with the extension of the crowd-sourced funding (CSF) framework to eligible proprietary companies. This starts on 19 October 2018. ASIC has amended

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22 Oct 2018

ASIC announces review of school banking

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As the lead Australian Government agency for financial capability, ASIC has announced that it will commence a review of school banking programs in primary schools. Across the country young people

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19 Oct 2018

ASIC action on compliance breaches with fees disclosure and renewal notices

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ASIC has announced a review of compliance with requirements for Fee Disclosure Statements and Renewal Notices in the financial advice sector. ASIC has received a number of breach reports from

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16 Oct 2018