ASIC releases policies on adviser training for carbon financial products

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ASIC has released its final policies on adviser training and financial requirements for entities and individuals providing financial services in relation to emissions units following a public consultation (refer Consultation Paper 175 Carbon markets: Training and financial requirements (CP 175)). The relevant policies are Regulatory Guide 146 Licensing: Training of financial product advisers (RG 146), which […]

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ASIC releases exchange traded funds report

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ASIC has released a report on exchange traded funds (ETFs) which outlines how this growing industry is regulated in Australia and the impact of proposed international principles to address concerns by overseas regulators. Report 282 Regulation of Exchange Traded Funds ( REP 282), explains ASIC’s current understanding about the operation of ETFs and ongoing work in […]

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ASIC improves disclosure of unlisted property scheme risks

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ASIC has introduced a new disclosure principle and six new disclosure benchmarks for unlisted property schemes to improve investors’ awareness of the risks of investing in these products. Regulatory Guide 46 Unlisted property schemes: Improving disclosure for retail investors (RG 46) has been revised as ASIC was concerned there was insufficient consistency or comparability in the […]

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ASIC releases full report on retirement advice shadow shopping research

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ASIC today released the full findings of ‘shadow shopping’ research which examined financial advice given to people to help them plan for retirement. The purpose of Report 279 Shadow shopping study of financial advice (REP 279) was to investigate the quality of retirement advice provided and people’s experience of obtaining financial advice. ASIC’s research found […]

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ASIC paper (CP 176) reviewing regulatory approach to platforms

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ASIC yesterday announced it is reviewing its regulatory approach to platforms as part of broader efforts to promote investor confidence in the sector. The platforms sector attracts significant funds. In the last decade the level of non-superannuation-related investment in platforms has doubled to around $100 billion of funds under management. ‘The platforms sector has changed […]

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ASIC releases policy on enforcement and investigations

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ASIC has released policy documents discussing how it undertakes investigations and enforcement activity. The policy documents are: Information Sheet 151: ASIC’s approach to enforcement (INFO 151). This discusses how ASIC approaches enforcement and why it responds to different breaches of the law in different ways. Information Sheet 152: Public comment (INFO 152) is about when […]

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ASIC releases third market supervision report

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ASIC has issued its third report on the supervision of Australian financial markets and market participants. Report 277 ASIC supervision of markets and participants: July to December 2011 (REP 277) identified that during the reporting period: There were 20,029 trading alerts with 131 matters requiring further consideration during the reporting period. Alert numbers can depend on […]

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ASIC finalises investigation into Saxo Bank following Sonray collapse

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ASIC has finalised its investigation into Saxo Bank A/S, the former provider of the trading platform for collapsed broker, Sonray Capital Markets Pty Ltd (in liquidation) (Sonray). Following the conclusion of that investigation, which focused on the risk management practices of Saxo Bank, ASIC has agreed with Saxo Bank that additional licence conditions will be […]

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ASIC improves disclosure by infrastructure entities

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ASIC has released new disclosure benchmarks and principles for infrastructure entities to improve investor awareness of the risks associated with investing in these products. The risks of investing in infrastructure entities were highlighted during the global financial crisis. The response of retail investors to loss of capital experienced during the crisis indicated that existing disclosure did […]

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Your clients can get a MoneyStart start to 2012

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ASIC’s MoneySmart website has a new budget planner to help people start 2012 with a fresh financial outlook. MoneySmart’s Delia Rickard said: ‘Getting out of debt and getting sorted financially are top new year’s resolutions for many people this year. Our new budget planner can help new year resolutions come true – it reveals exactly […]

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