Article list

ASIC has acted to disqualify or add conditions to the registration of a number of auditors of self-managed superannuation funds (SMSFs). The actions arose following ASIC concerns about failures to meet requirements including auditor independence standards, auditing standards, minimum continuing professional development (CPD) hours, lodging annual statements, and fit and proper person criteria.  Most of […]

ASIC has released a consultation paper about whether it should remake a class order that provides conditional relief to superannuation trustees from obligations in the Corporations Act 2001 (Corporations Act) that require trustee to provide an exit statement and notice to departed former temporary resident members. The class order is [CO 09/437] Departed former temporary residents’ superannuation–Disclosure […]

The Australian Prudential Regulation Authority (APRA) has released its Life Insurance Claims and Disputes Statistics publication, covering a rolling 12-month period from 1 January 2018 to 31 December 2018. The data is the product of a world-leading joint project between APRA and the Australian Securities and Investments Commission (ASIC), aimed at making it easier to compare life insurers’ performance […]

Announcing its focus areas for 30 June 2019 financial reports of listed entities and other entities of public interest with many stakeholders, ASIC has called on companies to focus on new requirements that can materially affect reported assets, liabilities and profits. New accounting standards Major new accounting standards will have the greatest impact on financial […]

ASIC has approved changes to the Australian Financial Complaints Authority (AFCA) Rules which give effect to the AFCA authorisation condition introduced by Government on 19 February 2019. Under the Government’s additional condition, AFCA is required to give expanded access to the AFCA scheme for consumers and small businesses that were harmed by financial misconduct, dating […]