1-10 of 19 results
Continuous disclosure during COVID-19: shining the spotlight on earnings and debt
In its latest compliance update, ASX reiterated that entities in financial difficulty (including with respect to their debt arrangements) will receive no special treatment. On earnings guidance, it was acknowledged that many listed entities have taken the opportunity to withdraw guidance issued before the outbreak of COVID-19. ASX also strongly encouraged entities to review their published guidance in light of COVID-19 and to either update it if it was not current or withdraw it in this highly uncertain climate. ...
Retail banking and responsible lending during COVID-19
The sudden and unknown nature of COVID-19 has triggered a global economic shock, and disrupted Australia's economy. As we enter a national state of economic 'hibernation', banks and lenders are ...
Joint ASIC and APRA letter to superannuation trustees, on the impact of COVID-19
It has been a week since we published our first article on the impact of COVID-19 on superannuation. Since then, we have continued to witness (from home) the turmoil caused by the virus, both in ...
Impact of COVID-19 on superannuation
Like all industries, the superannuation industry is facing some immense challenges in light of the rapidly developing COVID-19 pandemic. Key among those challenges will be dealing with the fallout ...
ASIC finalises new regulatory framework for foreign financial services providers
The Australian Securities and Investments Commission has unveiled the much-anticipated new regulatory framework for foreign financial services providers that supply financial services to wholesale ...
ASIC's New Document Production Guidelines
ASIC has released its new Document Production Guidelines, which govern how it expects electronic and hard copy records to be produced in response to compulsory notices. ...
COVID-19 and continuous disclosure: how you get ready
It is critical that listed entities understand how COVID-19 is likely to impact their businesses and are prepared to make necessary disclosures to the ASX. To date, the majority of ASX-listed entities have not made any disclosure in relation to COVID-19. In this update we have set out a number of scenarios that should be considered by listed clients as part of the proper and ongoing assessment of the need for disclosure under the ASX Listing Rules. ...
Mortgage broker best interests duty
ASIC has released a consultation paper and draft regulatory guide setting out its proposals for guidance on the new mortgage broker best interests duty, which will commence on 1 July 2020. Various mortgage industry participants will need to consider how it will affect them, and prepare accordingly. ...
Treasury's Exposure Draft Bills introduce important and significant changes
On Friday the Government released a large package of Exposure Draft Bills to implement the last of the Financial Services Royal Commission recommendations. There are some important and significant changes and Treasury is consulting widely (although not for very long) and seeking feedback. ...
Goodbye, conflicted remuneration (and hello, conflicted remuneration)
As 2019 draws to a close, it is almost 6½ years since the ban on conflicted remuneration commenced, and a little over 12 months until the grandfathering of said remuneration ends. Senior Regulatory Counsel Michael Mathieson reports. ...