This week in Penalties…

January 16, 2019

Licence conditions imposed


The Australian Securities and Investment Commission (ASIC) has imposed licencing conditions on KAZ Capital.


The regulator has indicated that they are concerned about the effectiveness of the company’s compliance framework relating to the monitoring of its advisors and complying with the Corporations Act.


“Licensees must have an adequate and appropriate compliance framework to govern the monitoring and supervision of t


heir representatives. We expect licensees to comply with this and will monitor their compliance closely.”


KAZ has employed an independent compliance expert who will report to KAZ and ASIC later this year about the effectiveness of their compliance framework.

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