ASIC releases market integrity report

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ASIC has released its latest report on market integrity for the period 1 July to 31 December 2018. The report highlights some of the activities undertaken to safeguard Australia’s financial markets, so investors can continue to participate with confidence. Key outcomes during the six-month period include:     The report looks at ASIC’s recent focus on […]

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Regulators urge financial institutions to plan for LIBOR transition

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The Australian Securities and Investments Commission (ASIC) has written to the CEOs of several major Australian financial institutions regarding their preparations for the end of LIBOR. This initiative is strongly supported by the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of Australia (RBA). LIBOR (London Interbank Offered Rate) is deeply embedded in financial […]

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Some AFS licensees may be breaking overseas laws

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Australian financial service (AFS) licensees that offer OTC derivatives to retail investors located in some overseas jurisdictions may be providing unlicensed or unauthorised services in those jurisdictions. Retail OTC derivatives are highly risky. Regulators in many jurisdictions (such as Europe, Japan, North America and China) have restricted or prohibited the provision to retail investors of […]

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Regulated by ASIC? Urgent action required by 27 September

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Organisations and individuals regulated by ASIC must act by this Thursday 27 September to meet their legal obligations under new industry funding laws. ASIC sent a letter in July to each organisation and individual’s company’s registered office address. This letter advised how to provide industry funding contact details and submit business activity metrics in the […]

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ASIC implements financial benchmark regulatory regime

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ASIC has finalised and published benchmarks rules, a significant benchmarks declaration, and a regulatory guide in a further series of measures towards establishing a comprehensive regulatory regime for financial benchmarks. This follows the establishment of a robust licensing regime for financial benchmarks through the recent passage of legislation through the Parliament. ASIC Commissioner Cathie Armour […]

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ASIC releases updated guidance on client money

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ASIC has released updated guidance for Australian financial services (AFS) licensees that hold client money for trading in over-the-counter (OTC) derivatives. The guidance coincides with the start of ASIC’s Client Money Reporting Rules 2017 (client money reporting rules) and other client money reforms on 4 April 2018 enacted under the Treasury Laws Amendment (2016 Measures No. 1) Act […]

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ASIC’s latest enforcement report highlights outcomes from the second half of 2017

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ASIC has released its enforcement outcomes report for the period 1 July 2017 to 31 December 2017. The enforcement outcomes over that six-month period include: The report presents a number of key outcomes over the last six months, across the areas that ASIC enforces: corporate governance, financial services, market integrity and small business. These outcomes […]

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ASIC reports on cyber resilience assessments of financial markets firms

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An ASIC report on the cyber resilience of over 100 firms operating across Australia’s financial markets has shown a growing understanding of cyber risks, but there is still some progress to be made. Report 555 Cyber resilience of firms in Australia’s financial marketscollates and analyses the results of self-assessments from over 100 stockbrokers, investment banks, market […]

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ASIC releases market integrity report

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ASIC has released its latest report on market integrity for the period 1 January to 30 June 2017. The report covers ASIC’s work to help ensure Australia’s financial markets operate fairly and efficiently. Key outcomes during the six-month period include:     The report looks at ASIC’s focus on cyber resilience, sell-side research and listing […]

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ASIC targets unlicensed binary option mobile apps

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In March 2017, ASIC conducted a review of various mobile app stores focusing on apps associated with binary options trading. The review highlighted over 330 apps which were offered to Australians by entities and individuals that appeared to be unlicensed. 63% were offered by binary option issuers and facilitated trading, 25% were from various signal […]

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