OSC Investor Advisory Panel annual report.
The Ontario Securities Commission (OSC) Investor Advisory Panel submitted its 2013-14 annual report. The report summarizes the Panel’s current activities and priorities as well...more
ASIC has released a statement as well as a video from Deputy Chairman Peter Kell setting out its agenda with respect to payday lenders. ...more
ASIC has announced today that QBE has made changes to its outsourcing of ‘escalated complaints and dispute resolution’ to an Australian law firm following concerns raised by ASIC. ...more
On 28 January 2015, the Australian Securities and Investment Commission (ASIC) rejected a relief application by the issuer of ’risk management facilities’ used by sporting clubs and retailers. The application for Australian...more
In a speech to the National Press Club, ASIC Chairman, Greg Medcraft, answered the question as to what ASIC does and why ASIC matters to Australians. He dealt with the role of ASIC, the challenges for ASIC and how ASIC will...more
Yesterday ASIC released two reports that highlight what we already thought we knew, that consumers generally don’t read the PDS to make a decision about taking out or switching insurance and that the regulatory framework is,...more
ASIC yesterday published its Strategic Outlook for 2014-2015. The Strategic Outlook is a new initiative for ASIC, which identifies the key risks ASIC sees in the immediate future for the markets it regulates and how it...more
Compliance template for Exchange Act Rule 17a-5(f)(2).
The Financial Industry Regulatory Authority has made available a new template and guidance for members electronically filing the statement required by Securities...more
News from the Americas -
Securities enforcement by state regulators. The US North American Securities Administrators Association published its annual enforcement survey. It noted a significant increase in the amount of...more
In response to recent correspondence between ASIC and the Institute of Internal Auditors Australia, ASIC announced a review of breach reporting by AFS licensees in response to concerns raised about inconsistencies and delays...more
On 17 September 2014, ASIC reported on the results of two financial advice industry engagement projects conducted during the 2013-13 financial year.
The Review of the financial advice industry’s implementation of the...more
On 8 August 2014, the Australian Investments and Securities Commission (ASIC) issued a media release – 14-191MR Statement on wholesale and retail investors and SMSFs (14-191MR), in which ASIC withdrew its previous view on the...more
The Australian Government (via The Treasury) has published Statements of Expectations for the Australian Prudential Regulation Authority (APRA), the Australian Competition and Consumer Commission (ACCC) and the Australian...more
The Full Court of the Federal Court of Australia (Full Court) has upheld part of the appeal of the Australian Securities and Investments Commission (ASIC) by removing liquidators in the case of Australian Securities and...more
ASIC has amended Class Order 08/1 to extend the reporting period for any breaches of the conditions of the class order for group purchasing bodies by 12 months. The class order provides relief to group purchasing bodies from...more
ASIC recently released Report 393 Handling of confidential information: Briefings and unannounced corporate transactions (the "Report"). The Report results from ASIC's attendance at sample investor briefings, media-based...more
In light of today's announcements from Mathias Cormann, Australia's Minister for Finance, the future of FoFA is becoming clearer.
The Future of Financial Advice (FoFA) legislation has been surrounded by uncertainty...more
Discussion and Analysis -
Last week, the Financial Industry Regulatory Authority issued one of its most important rule proposals in some time. Regulatory Notice 14-09 solicits comments on a proposed new regulatory...more
With the Australian Securities Exchange (ASX) set to launch its mFund settlement service in the first half of 2014, investment platform providers and financial advisers need to spend some time coming to grips with the...more
News from Asia and the Pacific -
ASIC information sheet on whistleblowers. The Australian Securities & Investments Commission has released information about its approach to dealing with whistleblower reports. The...more
In our earlier client update on 4 February 2014 (click here to view) we:
- outlined the nature and scope of the insider trading prohibition under the Corporations Act; and
- highlighted the extent of ASIC's...more
ASIC's recent announcement that a technology systems upgrade will enable it to watch and tag trades by individual investors is a timely reminder that companies and persons in possession of "inside information" need to be...more
Sometimes a property developer will allow the purchaser to settle without receiving the full balance of the purchase price because the purchaser is unable to obtain adequate financing to complete a settlement. The shortfall...more
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