Dubai and Australia seal agreement on fintech cooperation

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The Dubai Financial Services Authority (‘DFSA’) and ASIC last Friday signed a Cooperation Agreement which provides a framework for cooperation to support and understand financial innovation in each jurisdiction. The DFSA regulates

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27 Nov 2017

ASIC welcomes consultation on changes to fees-for-service

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ASIC welcomes the release by Treasury of a consultation paper proposing changes to fees-for-service. While around 90% of ASIC’s regulatory activities will be now be recovered as part of the

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24 Nov 2017

ASIC delivers on commitment to help limited AFS licensees understand their obligations

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The Australian Securities and Investments Commission (ASIC) has released new webpage guidance and information sheets to help limited Australian Financial Services (AFS) licensees and their representatives understand their key obligations.

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23 Nov 2017

ASIC confirms restricted use of ‘independently owned’ in financial services

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ASIC has updated regulatory guidance to confirm restrictions, that were announced in June 2017, on the use of terminology that implies independence. ASIC has updated Regulatory Guide 175 Licensing: Financial product advisers –

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15 Nov 2017

ASIC announces the initial members of the Financial Services and Credit Panel

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Following expressions of interest from leaders in the financial services and consumer credit industry to become members of the Financial Services and Credit Panel (‘FSCP’), ASIC has selected for appointment

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15 Nov 2017

APRA and ASIC publish key industry data on life insurance claims

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APRA and ASIC yesterday released initial industry-aggregate results from round one of a new data collection pilot on life insurance claims. Following a review by ASIC last year, the two

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10 Nov 2017

Citibank refunds $3.3 million to credit card customers

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Citibank will refund more than $3.3 million to around 39,500 current and former customers for failing to refund customers when credit card accounts were closed with an outstanding credit balance.

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10 Nov 2017

China and Australia to cooperate on fintech

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The China Securities Regulatory Commission (‘CSRC’) and Australian Securities and Investments Commission (‘ASIC’) have entered into an agreement to promote innovation in financial services in their respective markets. The Information Sharing Co-operation

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07 Nov 2017

ASIC overhauls funds management guidance

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ASIC has released a suite of new and updated guidance for the funds management industry for consultation. The six new and updated regulatory guides have been developed in advance of

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27 Oct 2017

ASIC releases update to evidence metrics for performance reporting

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ASIC has released updated evidence metrics to report against six common key performance indicators (KPIs) in the Australian Government’s Regulator Performance Framework (Framework). Following ASIC’s first self-assessment against the Framework

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23 Oct 2017