The Final Report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was published early last week. In addressing the findings from hearings into the Financial Advice...more
An Australian Securities & Investments Commission (ASIC) Report, "Sale of Direct Life Insurance" (Report), has exposed systemic issues within the life insurance industry. The findings include a number of dramatic case studies...more
Misaligned advisor interests. Consumer disengagement. Low financial literacy in the face of complex documents. These themes echo throughout the revised Treasury Laws Amendment (Design and Distribution Obligations and Product...more
Concerns have been raised by the Australian Government in recent times in relation to the effect of current remuneration structures in the mortgage broking market on the quality of consumer outcomes.
During 2016, the...more
ASIC's amended fee and cost disclosure requirements for managed investment schemes and superannuation funds are due to commence tomorrow. However, ASIC has granted an extension until 1 September 2017....more
The Australian government has released draft regulations implementing a single sided exemption from the trade reporting regime for over-the-counter (OTC) derivatives. Consultation on the regulations closed in late June and...more
7/28/2015
/ ASIC ,
Compliance ,
Derivatives ,
DTCC ,
Financial Markets ,
Foreign ,
Foreign Entities ,
Foreign Trade Regulations ,
Hedge Funds ,
Investment Management ,
Over The Counter Derivatives (OTC) ,
Safe Harbors ,
Superannuation
In March this year, the Australian Securities and Investments Commission (ASIC), issued Report 429 Cyber resilience: Health check (REP 429). The report aims to highlight the importance of cyber resilience for entities...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
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
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