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November 14, 2019

Earlier this week, the Australian Securities and Investments Commission (ASIC) released guidance to help companies meet their obligations under the new whistleblower reforms.

“Robust and transparent whistleblower policies are essential to achieving sound risk management...

November 13, 2019

Australian Securities and Investments Commission

Poor conduct

Earlier this month, the corporate regulator filed an application with the Federal Court seeking an inquiry into the conduct of Jason Bettles, a registered liquidator and Partner at Worrells Solvency and Accoun...

November 13, 2019

Earlier this month, the Australian Financial Complaints Authority (AFCA) released their ‘Datacube’, bringing transparency to how financial firms have been handling complaints.

“This tool—the AFCA Datacube—provides a much deeper level of detail about the issues and produ...

November 13, 2019

Increased competition is one of the proposed measures the Government and regulators see as a means of tackling what appears to be systemic misconduct in the financial sector, post-Royal Commission.

The Australian Prudential Regulation Authority (APRA) is expected to pla...

November 7, 2019

Australian Securities and Investments Commission 

Efficiently, fairly, honestly

This week, ASIC announced it was taking action against in the Federal Court a division of Tidswell Master Superannuation Plan over the promotion of the MobiSuper Fund.

Concerned about the pote...

November 4, 2019

Just like both the interim and final reports of the Royal Commission into the Financial Services sector, the Royal Commission into Aged Care has laid bare a wholistic view of systemic failures within the aged care system.

Unlike the financial services sector, however, f...

October 31, 2019

As part of a major package of reforms to penalties which came into effect on 13 March this year[1], the highest maximum penalty for a market participant (stockbroker or futures dealer) for a contravention of the Market Integrity Rules (MIRs)[2] rose 315%, from $1m to $...

October 31, 2019

This week, the Australian Securities and Investments Commission (ASIC) imposed further licensing conditions against IOOF Investment Services Ltd (IISL) until they improve their governance practices. This imposition is connected partly to their application for licensing...

October 31, 2019

This week, the Australian Securities and Investments Commission (ASIC) addressed the importance of superannuation trustees putting members’ interests first.

One of the key principles in the proposed Protecting Your Superannuation Package (PYSP) reforms is improved commu...

October 31, 2019

Australian Competition and Consumer Commission

Misuse of data

The competition regulator alleges that from 2017 until late 2018, Google misled consumers about its intended—and actual—use of their personal data.

“We are taking court action against Google because we allege t...

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