ASIC acts to improve transparency of super websites

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ASIC has intervened in relation to 21 superannuation trustees, representing 15 per cent of the trustee population, to improve ‘Transparency Information’ (TI) on their super fund websites. Under s29QB of

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05 Jul 2017

ASIC releases superannuation member experience report

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ASIC has released a report about our review of key aspects of consumer engagement with their super funds, focusing on the experience of less-engaged superannuation fund members. The review sets

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03 Jul 2017

ASIC extends relief excluding multifunds, superannuation platforms and hedge funds from the shorter PDS regime

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ASIC has extended Class Order [CO 12/749] Relief from the Shorter PDS regime for one year. The class order relief was due to expire on 30 June 2017. The class

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03 Jul 2017

ASIC clarifies its position on the use of ‘independently owned’

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ASIC has clarified its position on the use of restricted terms relating to the independence of financial advisers after seeking external legal advice on whether phrases such as ‘independently owned’

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28 Jun 2017

ASIC temporarily extends time to provide Statements of Advice for urgent superannuation advice

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ASIC has issued ASIC Corporations (Urgent Superannuation Advice) Instrument 17-530 (the Instrument) to temporarily extend the time financial advisers have to provide retail clients with a Statement of Advice (SoA).

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28 Jun 2017

Japan and Australia cooperate on fintech

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The Japan Financial Services Agency (‘JFSA’) and Australian Securities and Investments Commission (‘ASIC’) last week announced the completion of a framework for co-operation to promote innovation in financial services in Japan

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27 Jun 2017

ASIC commences consultation on proposed guidance on crowd-sourced funding

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ASIC yesterday released two consultation papers proposing guidance for public companies and intermediaries (i.e. crowd funding platform operators) to assist them in using the new crowd-sourced funding (CSF) regime commencing on

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23 Jun 2017

ASIC reports on decisions to cut red tape – October 2016 to March 2017

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ASIC has released its latest report outlining decisions on relief applications, highlighting ASIC’s efforts to reduce red-tape and achieve a practical, positive outcome for companies seeking some regulatory flexibility. The

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21 Jun 2017

ASIC welcomes the dawn of a new regulatory era

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The Australian Securities and Investments Commission (ASIC) has welcomed the passage of legislation enabling a more secure and accountable funding of the model for regulation of the Australian corporate sector. Effective

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19 Jun 2017

ASIC releases instrument setting the commission caps and clawback amounts as part of the life insurance advice reforms

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ASIC has made ASIC Corporations (Life Insurance Commissions) Instrument 2017/510 (Life Insurance Commissions Instrument), as part of the life insurance reform package which was announced by the Government on 6

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08 Jun 2017