ANZ to refund nearly $29 million to more than 390,000 accounts as a result of unclear fee disclosures

From

Australia and New Zealand Banking Group Limited (ANZ) is refunding $28.8 million to 376,570 retail accounts, and 17,230 business accounts, after it failed to clearly disclose when certain periodical payment

continue reading
06 Sep 2016

ASIC launches new divorce and separation resources to support financial decisions

From

New online resources – the Divorce and Separation Financial Checklist and the Asset Stocktake Calculator – developed by ASIC will help people navigate the financial aspects of divorce and separation.

continue reading
02 Sep 2016

ASIC releases guidance on regulating digital advice

From

ASIC has released its guidance on providing digital financial product advice for retail investors: Providing digital financial product advice to retail clients (RG 255). The guide brings together some of

continue reading
31 Aug 2016

Review of Australian equity market cleanliness

From

A review by ASIC has found an overall improvement in the measures of cleanliness in the Australian listed equity market over the past decade. Report 487 Review of Australian equity

continue reading
10 Aug 2016

ASIC consults on communicating audit findings to directors, audit committees or senior managers

From

ASIC yesterday released a consultation paper about it directly communicating specific financial reporting and audit findings identified from ASIC reviews of external audit files to directors, audit committees or senior managers

continue reading
26 Jul 2016

ASIC consults on proposed guidance on risk management

From

ASIC yesterday released a consultation paper and proposed regulatory guidance on risk management practices for responsible entities in the managed funds sector. Consultation Paper 263 Risk management systems of responsible entities:

continue reading
22 Jul 2016

ASIC reports on review of due diligence practices in IPOs

From

An ASIC review of issuer due diligence in initial public offerings (IPO), has found a close correlation between defective disclosure in a prospectus and poor due diligence. REP 484 Due

continue reading
15 Jul 2016

Transition period for recognised accountants providing SMSF related financial product advice has ended

From

On 30 June 2016, the transitional period for recognised accountants who provide self-managed superannuation fund (SMSF) related financial advice ended. Recognised accountants who lodged applications with ASIC between 1 July

continue reading
11 Jul 2016

ASIC encourages Indigenous consumers to ‘take a minute with their money’

From

To mark NAIDOC Week (3-10 July 2016), ASIC has released a new series of videos designed to help Indigenous consumers with key money decisions. They encourage people to take time

continue reading
08 Jul 2016

ASIC warns 185 SMSF auditors to lodge annual statements or their registration will be cancelled

From

ASIC is sending a final warning to 185 approved SMSF auditors that their registration will be cancelled if their outstanding annual statements are not lodged with fees paid by 22

continue reading
29 Jun 2016