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ASIC puts life companies on notice to improve sales practices
ASIC issued a 'Dear CEO' letter to life companies on 18 August 2025, setting out key observations from a recently completed review of direct sales practices of life companies, although we think t ...
Cyber enforcement in the spotlight again as ASIC pursues Fortnum Private Wealth
ASIC has commenced civil penalty proceedings against AFS licensee Fortnum Private Wealth Limited (Fortnum), alleging it failed to adequately manage cybersecurity risks across its network of authorised ...
RBA’s payment shake-up: implications for merchants and payment service providers
The Reserve Bank of Australia (RBA) has published a consultation paper setting out its proposed changes to the standards regulating interchange fees and merchant surcharging, following consultation on ...
Allens advises Platinum Asset Management on proposed merger with L1 Capital
The merger will see Platinum acquire L1 Capital in exchange for issuing new ordinary shares to L1 Capital's existing shareholders. Following completion of the transaction, L1 Capital's existing ...
ASIC provides relief for licensees under the reportable situations regime
ASIC has provided some additional relief from the 'reportable situations' regime that applies to Australian financial services and credit licensees. The changes apply immediately, and licensees should review and update their internal systems for dealing with incidents and reportable situations to re ...
Financial services regulation update (May edition)
Covered in this webinar: CPS 230 implementation issues: many financial services organisations already have well-advanced projects addressing the new requirements, while others are starting work now. The webinar focuses on key implementation issues that entities need to consider as they work through the requirements and share key 'learnings' at this stage and best practice examples. Using AI in financial services: we have seen increasing interest from financial services providers in using AI to gain efficiencies as well as to deliver services to clients in new ways. The webinar looks at at use-cases for generative AI in financial services, and consider key issues from a governance, procurement, and regulatory perspective. ...
Quality of Advice Review – Q&A
Covered in this webinar: Following the release of the Quality of Advice Review Final Report, Allens will explore the recommendations to increase access to high quality, affordable and accessible financial advice for all Australians. ...
Spotting and stopping scams – a conversation with Anna Bligh
Covered in this webinar: emerging trends and key challenges for all parts of the economy in combatting scams; the warning signs of scams and how Australian consumers can protect themselves; and the need for an eco-system approach across all parts of the economy – banks, telecommunication companies, social media platforms and the Government. ...
Financial services regulation update (September edition)
Covered in this webinar: The latest from the Court of Appeal on conflicted remuneration and financial product advice The Financial Accountability Regime ...
What this means for mortgage brokers and financial advisers
The response to the Final Report The Government's initial response to support the Recommendations was met with intense dissatisfaction and criticism from the mortgage broking industry. Industry groups argued that banning trail commissions ...