10 results
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. ...
ASIC Report 639: Why not…review and remediate?
ASIC Report 639 Financial advice by superannuation funds was published on 3 December. It examines the ways in which superannuation funds provide financial advice to members and the overall quality of personal financial advice obtained through funds. ...
Disclosure of fees and costs and new RG 97
Anyone with even a passing professional interest in superannuation and funds will be familiar with 'RG 97'. For the last five years or so, the industry has been struggling to make sense of what information is required to be disclosed in a PDS and periodic statement for a superannuation fund or managed investment scheme. ASIC promised a 'facilitative approach' to supervision and Darren McShane (an independent expert) was appointed by ASIC to make recommendations to improve the regime. ...
ASIC Corporate Governance Taskforce report; ASX listing rules update; ACCC cartel immunity and cooperation policy update; High Court considers financial assistance prohibition; and other corporate law developments
ASIC issues Corporate Governance Taskforce report; ASX flags updates to listing rules; ACCC updates cartel immunity and cooperation policy, and expresses concerns with consumer loyalty schemes; ...
ASIC Corporate Governance Taskforce Report
ASIC has released its first report focusing on director and officer oversight of non-financial risk in seven large financial services companies (the First Report). While the report focuses on financial services companies, ASIC points out expressly that all companies, regardless of sector, should read and engage with the findings of this report. ...
No safe harbours for mortgage brokers in latest reforms
Partner Partner Hot on the heels of its Implementation Roadmap, the Federal Government has released draft legislation introducing a best interests duty and banning conflicted remuneration for mortgage brokers. This affects not only ...
Digital Platforms Inquiry Final Report released; Takeovers Panel considers board discretions and process deed disclosure requirements; and other corporate law developments
ASIC continues to focus on conduct issues and commences new litigation against big banks; ASX reminds the market about issues around cryptocurrencies; FIRB releases a new Foreign Investment ...
Treasurer's 'Roadmap' more a reminder than an explainer
Partner The Treasurer, the Honourable Josh Frydenberg, released the Government's 'Implementation Roadmap' today to 'provide clarity and certainty' about the Government's ongoing work to implement the recommendations of the Royal ...
ASIC's product intervention power – time to permanently retire a furphy?
Three consultation papers released by ASIC in recent times are far more interesting for what they reveal about whether the newly-minted product intervention power was really needed in the first ...
ASIC's proposed market integrity rules for technological and operational resilience could impose far-reaching obligations
ASIC has released Consultation Paper 314 - Market integrity rules for technological and operational resilience ( Consultation Paper ). If introduced, these rules will require that market participan ...