Banks urged to keep focus on deceased estates

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The Banking Code Compliance Committee (BCCC) has called on banks to keep a heightened focus on their management of deceased estates, after a review found that further work and commitment is needed to ensure improvements are working in

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Former ASIC Commissioner Sean Hughes appointed Chair of the Banking Code Compliance Committee

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The Australian Financial Complaints Authority (AFCA) and the Australian Banking Association (ABA) have jointly appointed former ASIC Commissioner Sean Hughes as the next Chair of the Banking Code Compliance Committee

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Commissioner Sean Hughes to depart ASIC

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ASIC Commissioner Sean Hughes will end his term as Commissioner on 3 February 2023, after accepting a role in the commercial sector. ASIC Chair Joe Longo said ‘We are grateful

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How to avoid ‘greenwashing’ for superannuation and managed funds

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ASIC has released an information sheet to help issuers avoid ‘greenwashing’ when offering or promoting sustainability-related products. The publication will also assist issuers to provide investors with the information they

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ASIC helps young people Get Moneysmart

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57% of young people want to learn more about investing, 54% want to make the most of their money, and now, more than ever, young people are visiting ASIC’s Moneysmart

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ASIC’s responsible lending appeal dismissed by the Full Federal Court

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On 10 September 2019, ASIC filed an appeal with the Federal Court of Australia against the decision of the Honourable Justice Perram regarding ASIC’s allegations against Westpac Banking Corporation (Westpac)

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ASIC publishes new regulatory guidance for mortgage brokers

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ASIC has published regulatory guidance to assist in the application of the new best interests duty for mortgage brokers, which comes into effect in 2021. The new obligations were legislated

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ASIC warns AFS licensees to meet financial reporting obligations on time

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ASIC is reminding all Australian Financial Services (AFS) licensees to lodge their annual financial statements and auditor reports by the due date as required under the Corporations Act 2001. ASIC expects

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ASIC makes product intervention order banning short term lending model to protect consumers from predatory lending

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ASIC has used its product intervention power to ban a model of lending in the short term credit industry which has been found to cause significant consumer detriment. In its

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ASIC research highlights the importance of reforms for mortgage brokers and home lending

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ASIC has released a report Looking for a mortgage: Consumer experiences and expectations in getting a home loan. As part of this research, ASIC followed over 300 consumers in the

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