Regulatory Updates
-
31 May 2021 T-REX Article
AUSTRAC updates SMR guidance
-
31 May 2021 T-REX Article
Providers of debt management services now require an ACL
ASIC has released an information sheet to provide guidance for providers of debt management services. Debt managements services, which includes …
Subscribe -
31 May 2021 T-REX Article
Litigation funders granted temporary relief for certain disclosures
ASIC has made ASIC Corporations (Amendment) Instrument 2021/292 (New Instrument) to give temporary relief to litigation funding schemes …
Subscribe -
31 May 2021 T-REX Article
Former managing director of responsible entity banned for defective PDS
-
31 May 2021 T-REX Article
ASIC finds retail managed funds responded well to COVID-19
-
31 May 2021 T-REX Article
ASIC cancels ACL of Master Wealth Control
-
31 May 2021 T-REX Article
ASIC bans Sydney adviser for eight years
-
31 May 2021 T-REX Article
ASIC sues AMP for charging deceased customers
On 26 May 2021, ASIC commenced civil penalty proceedings in the Federal Court against five entities in the AMP group …
Subscribe -
31 May 2021 T-REX Article
FASEA approves new degrees
On 14 May 2021, FASEA announced that it has approved the following two degrees:
- any bachelor with a major in …
-
31 May 2021 T-REX Article
FASEA releases March 2021 exam results
-
31 May 2021 T-REX Article
ASIC releases second consultation paper on the ePayments Code
In its second round of consultation, ASIC has published Consultation Paper 341 Review of the ePayments Code: Further consultation, …
Subscribe -
31 May 2021 T-REX Article
ASIC sues Westpac for insider trading
-
31 May 2021 T-REX Article
ASIC warns against scams and fake news
ASIC has issued a warning to consumers to be aware of scams following an increased number of reports from consumers …
Subscribe -
31 May 2021 T-REX Article
Additional funding for the OAIC in 2021-22 Federal Budget
In this year’s Federal Budget, the Office of the Australian Information Commissioner (OAIC) has been allocated additional funding for …
Subscribe -
31 May 2021 T-REX Article
AFCA appoints a new independent chair
AFCA’s Board has announced that Professor John Pollaers OAM has replaced the Hon Helen Coonan as AFCA’s Independent Chair.
Professor …
Subscribe -
31 May 2021 T-REX Article
Potential return to the old licensing relief for Foreign Financial Services Providers
Foreign financial services providers (FFSP) have been subject to a new regulatory regime since April 2020, with transitional …
Subscribe -
31 May 2021 T-REX Article
Federal Budget takeaways for ASIC
Each year, the Federal Budget includes a statement for each portfolio, including ASIC. The Statement includes a strategic direction statement, …
Subscribe -
31 May 2021 T-REX Article
ASIC Releases Quarterly Report
ASIC has published the ASIC quarterly update: January to March 2021, which provides an update of its work undertaken …
Subscribe -
31 May 2021 T-REX Article
New Financial Regulator Authority to oversee ASIC and APRA
The Financial Regulator Assessment Authority Bill 2021 and the Financial Regulator Assessment Authority (Consequential Amendments and Transitional Provisions) Bill 2021 …
Subscribe -
31 May 2021 T-REX Article
ALRC updates industry on its review of the financial services laws
The Australian Law Reform Commission (ALRC), which was tasked with reviewing the legislative framework for the financial services …
Subscribe -
30 Apr 2021 T-REX Article
Financial Services Compliance: Save or Spend? (T-REX Bites Feature Article)
When new clients are looking to engage us for the first time, they sometimes ask us for recommendations on what …
Subscribe -
30 Apr 2021 T-REX Article
Consultation
-
30 Apr 2021 T-REX Article
In brief
ASIC announces new Chair and Deputy Chair
ASIC has announced the appointment of Joe Longo as ASIC Chair, and Sarah …
Subscribe -
30 Apr 2021 T-REX Article
Don’t forget to renew your registration on the Digital Currency Exchange Register
If you provide the designated service of operating a digital currency exchange (DCE) and you registered on the …
Subscribe -
30 Apr 2021 T-REX Article
Financial Action Task Force (FATF) public consultations
-
30 Apr 2021 T-REX Article
Western Sydney fraud syndicate dismantled
Australian Federal Police (AFP) has charged 6 people allegedly involved in a crime syndicate which has defrauded the …
Subscribe -
30 Apr 2021 T-REX Article
AUSTRAC updates
-
30 Apr 2021 T-REX Article
Former finance broker pleads guilty and sentenced to fraud
Mr Vaughn Thomas Hopkins plead guilty to four charges of obtaining a financial advantage by deception, an offence under section …
Subscribe -
30 Apr 2021 T-REX Article
Court action for failure to comply with AFCA determinations
ASIC has commenced legal proceedings against Lightspeed Finance Pty Ltd (Lightspeed Finance) and its director Mark James Fitzpatrick …
Subscribe -
30 Apr 2021 T-REX Article
Adviser banned for misleading conduct
ASIC has banned Andrew Carl Hills from providing financial services for four years after its investigation found that he authorised …
Subscribe -
30 Apr 2021 T-REX Article
ASIC surveillance leads IOOF to make changes
-
30 Apr 2021 T-REX Article
One of three temporary relief measures for SOAs extended
-
30 Apr 2021 T-REX Article
Director of Mayfair 101 restrained for 20 years
-
30 Apr 2021 T-REX Article
Financial advisers and others will not require authorisation for handling insurance claims
New law has been made, Financial Sector Reform (Hayne Royal Commission Response) (Claimant Intermediaries) Regulations 2021, to amend regulation …
Subscribe -
30 Apr 2021 T-REX Article
Deadline looms for insurance claims handling licence applications
-
30 Apr 2021 T-REX Article
ASIC issues Product Intervention Order to ban Binary Options
ASIC is continuing its focus on the CFDs sector and has made a further product intervention order, ASIC Corporations (Product …
Subscribe -
30 Apr 2021 T-REX Article
Director charged with dishonest conduct
Kenneth Charles Grace has been charged with eight counts of engaging in dishonest conduct and one count of operating a …
Subscribe -
30 Apr 2021 T-REX Article
New disciplinary body and registration requirement for financial advisers
The Royal Commission recommended (recommendation 2.10) that the Government establish a new disciplinary system for financial advisers. The Commissioner recommended …
Subscribe -
30 Apr 2021 T-REX Article
ASIC takes action against Westpac for add-on credit insurance
ASIC has commenced legal proceedings against Westpac in the Federal Court in relation to the “sale” of two of its …
Subscribe -
30 Apr 2021 T-REX Article
CBA fined $7 million for overcharging interest to customers
-
30 Apr 2021 T-REX Article
ASIC makes submission on new super legislation
ASIC recently made a submission to the Senate Economics Legislation Committee regarding the ‘Your Future, Your Super’ Bill. In the …
Subscribe -
30 Apr 2021 T-REX Article
ASIC makes submission to AFCA review
After two years of operation, AFCA is now subject to an independent review which is being conducted by Treasury.
ASIC …
Subscribe -
30 Apr 2021 T-REX Article
ASIC releases July-Dec 2020 enforcement report
-
30 Apr 2021 T-REX Article
ASIC outlines its focuses for the new financial year
-
30 Apr 2021 T-REX Article
ASIC takes action against CBA for misleading conduct
ASIC has commenced civil penalty proceedings against the Commonwealth Bank of Australia (CBA). ASIC alleges that customers were …
Subscribe -
31 Mar 2021 T-REX Article
Keeping your AML/CTF Program up-to-date (T-REX Bites Feature Article)
Outsourcing KYC obligations
If you are bound by the Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation[1], (that …
Subscribe -
31 Mar 2021 T-REX Article
Consultation
CP 334 Proposed changes to simplify the ASIC Derivative Transaction Rules (Reporting): First consultation. This Consultation Paper sets out …
Subscribe -
31 Mar 2021 T-REX Article
In brief
No action position for AGMs, but not for electronic signatures
Last year, temporary relief was granted by the Government to …
Subscribe -
31 Mar 2021 T-REX Article
Trade-based money laundering risk indicators
-
31 Mar 2021 T-REX Article
ASIC takes action against Membo Finance for alleged contraventions related to Hardship applications
ASIC has commenced proceedings against Membo Finance Pty Ltd for alleged contraventions of the National Consumer Credit Protection Act 2009 …
Subscribe