1-10 of 42 results

ASIC consults on relief for superannuation calculators and forecasts
Insight 30 Nov 2021

ASIC has released Consultation Paper 351: Superannuation forecasts: updates to relief and guidance seeking feedback on proposals to extend and expand the relief for superannuation calculators and retirement forecasts. It has also released the draft relief instrument and draft regulatory guide. ...

ASIC publishes updated guidance on hawking reforms
Insight 27 Oct 2021

Under the new hawking prohibition in sections 992A and 992AA of the Corporations Act 2001 (Cth) (Corporations Act), a person must not offer a financial product to a retail client (consumer) in the course of, or because of unsolicited, real-time contact. ...

October compliance deadlines: rounding up the last-minute changes
Insight 27 Oct 2021

October marks the commencement of the design and distribution obligations (DDO) regime, the deferred sales model for add-on insurance (DSM), changes to the anti-hawking rules, refreshed standards for internal dispute resolution systems and, to top it all off, a new breach reporting regime. ...

Consultation period has closed for draft FAR Bill
Insight 31 Aug 2021

On 13 August 2021, consultation closed on the various documents issued by Treasury in relation to the much anticipated Financial Accountability Regime (FAR). ...

Are you ready for the new breach reporting regime?
Insight 18 Aug 2021

ASIC has released a consultation paper on its draft regulatory guidance for the new (read onerous and wide-ranging) breach reporting regime, which is to commence on 1 October 2021. The release, on 22 April 2021, followed the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 ...

Transferring jurisdiction over schemes from the courts to the Takeovers Panel
Insight 17 Jun 2021

In the federal budget, the Treasurer announced funding for a public consultation process to consider broadening the jurisdiction of the Takeovers Panel to include members' schemes of arrangement. The idea of transferring jurisdiction over schemes from the courts to the Panel is not a new one. ...

Your jointly proposed pecuniary penalty may not be appropriate
Insight 27 Apr 2021

The decision of the Full Federal Court in the appeal of Volkswagen v ACCC is an important reminder of the court's supervisory role in approving pecuniary penalties jointly proposed by parties to a proceeding. It also reinforces an identifiable increase in the value of pecuniary penalties sought and obtained by the Australian regulators in enforcement proceedings since 2015. ...

'Remediation' as a legal term
Insight 24 Mar 2021

ASIC's recent consultation paper (CP335) on proposed changes to its remediation guidance (RG256) may have created further space between what is legally required of remediations and what ASIC may expect of them. ...

ASIC immunity to whistleblowers
Insight 26 Feb 2021

ASIC's immunity policy provides immunity from the 'market misconduct' provisions (including insider trading, false and misleading conduct and dishonest conduct) to the first person who reports the misconduct to ASIC where multiple persons are involved. ...

ASIC publishes final version of Regulatory Guide on Design and Distribution Obligations
Insight 14 Dec 2020

An overview of how the final RG deals with a key questions raised by issuers and distributors for Design and Distribution Obligations. We look at issues relevant to all industries, and then some particular questions for banking, superannuation and investments, and insurance. ...

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