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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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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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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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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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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ASIC calls on preparers to focus on the quality of financial report information

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ASIC has continued to call on companies to focus on giving information for users of financial reports that is useful and meaningful. Announcing its focus areas for 30 June 2017

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ASIC consults on new example Statement of Advice for life insurance

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ASIC has released a consultation paper on a new example Statement of Advice (SOA) for life insurance. Consultation Paper 284 Example Statement of Advice for life insurance: Update to RG

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ASIC proposes next steps on regtech

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ASIC will establish a new regtech industry liaison network, conduct a number of new technology trials using regtech applications and establish a ‘hackathon’ later this year to help identify roadblocks

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ASIC provides guidance on common issues in registration of managed investment schemes

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ASIC has published a new information sheet to explain the common issues we identify in the content of managed investment scheme (scheme) constitutions during the registration process, and how we

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Compensation update: major financial advisory institutions continue refund programs for fees-for-no-service

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AMP, ANZ, CBA, NAB and Westpac have so far repaid more than $60 million of an expected $200 million-plus total in refunds and interest for failing to provide general or

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