APRA and ASIC publish key industry data on life insurance claims

From

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

continue reading

Citibank refunds $3.3 million to credit card customers

From

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.

continue reading

China and Australia to cooperate on fintech

From

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

continue reading

ASIC overhauls funds management guidance

From

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

continue reading

ASIC releases update to evidence metrics for performance reporting

From

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

continue reading

The FMA and ASIC confirm trans-Tasman collaborative approach to fintech

From

The Financial Markets Authority (FMA) and the Australian Securities and Investments Commission (ASIC) have re-affirmed their commitment to collaboration and cooperation on the expanding opportunities in fintech and innovation. The

continue reading

ASIC committed to improving the financial capabilities of Australians

From

The National Financial Literacy Strategy sets out a plan to strengthen the financial capabilities of all Australians with the aim of improving financial outcomes. A key feature of the National

continue reading

ASIC update on interest-only home loans

From

ASIC has provided an update on its targeted review of interest only home loans. Announced in April 2017, the review was a targeted industry surveillance examining whether lenders and mortgage

continue reading

Industry funding: ASIC publishes estimated regulation costs for 2017-18

From

ASIC has released its Cost Recovery Implementation Statement (CRIS), which includes estimated costs for ASIC’s 2017-18 regulatory activities. The CRIS is part of ASIC’s commitment to transparency under industry funding,

continue reading

World Investor Week: ASIC’s MoneySmart golden rules to investing

From

To mark World Investor Week (2 – 8 October 2017), ASIC is reminding investors to work out their financial goals and develop an investment plan before committing to an investment. ‘Smart investors don’t rely

continue reading