Regulatory Updates
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30 Sep 2024 T-REX Article
The AFSL variation Process (T-REX Bites Featured Article)
How do I apply to vary an AFS licence?
The application process is completed using an online form (ASIC Form …
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30 Sep 2024 T-REX Article
Consultation
Extension of record-keeping and breach reporting Legislative Instruments. This ASIC proposal was to extend a Class Order and Legislative …
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30 Sep 2024 T-REX Article
In brief
Extended protections under whistleblower laws
Updates to whistleblower laws took effect on 1 July 2024 to extend existing protections to …
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30 Sep 2024 T-REX Article
AUSTRAC seeks feedback on updated customer identification guidance
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30 Sep 2024 T-REX Article
AUSTRAC urges awareness in combating child exploitation
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30 Sep 2024 T-REX Article
AML/CTF amendments introduced to Parliament
The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 was introduced to Parliament on 11 September 2024.
The Bill is …
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30 Sep 2024 T-REX Article
Federal Court finds Credit Act breaches
The Federal Court has found that the business model used by Rent4Keeps breached the National Consumer Credit Protection Act 2009 …
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30 Sep 2024 T-REX Article
ASIC market integrity update
ASIC’s latest Market Integrity Update covers supervision priorities, operational resilience, and new ASIC powers, among other topics.
ASIC has published …
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30 Sep 2024 T-REX Article
ASIC clarifies guidance on financial services business
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30 Sep 2024 T-REX Article
And the record greenwashing penalty goes to… Vanguard
The Federal Court has ordered Vanguard Investments Australia to pay a $12.9 million penalty for making misleading claims about ESG …
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30 Sep 2024 T-REX Article
Record penalty imposed on Macquarie Bank for market gatekeeper failure
The Markets Disciplinary Panel has fined Macquarie Bank Limited $4.995 million, the highest penalty ever imposed by the MDP. The …
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30 Sep 2024 T-REX Article
DBFO regulations made
The Government has made Treasury Laws Amendment (Delivering Better Financial Outcomes) Regulations 2024. These support the operation of the …
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30 Sep 2024 T-REX Article
Financial Services and Credit Panel gets busy
The Financial Services and Credit Panel has been busy, updating its Outcomes Register on three occasions in the past month. …
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30 Sep 2024 T-REX Article
Calls for super funds to better engage with millennials
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30 Sep 2024 T-REX Article
Recent Court actions remind licensees to monitor use of client funds
Some recent Court actions serve as a reminder for licensees to ensure that adequate processes and systems are in place …
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30 Sep 2024 T-REX Article
Court dismisses ASIC proceedings against REST for misleading representations
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30 Sep 2024 T-REX Article
DDO interim stop order placed on Candy Club
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30 Sep 2024 T-REX Article
Scam complaints a big part of AFCA’s diet
In 2023-24, AFCA reports that it received approximately 11,000 scam-related complaints.
By way of example, in AFCA determination 973025, AFCA …
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30 Sep 2024 T-REX Article
AFCA, scams, consultation, portal and expulsions
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30 Sep 2024 T-REX Article
Government enlists help of industry to reduce scam risk
The Government has published draft legislation to implement its Scams Prevention Framework.
The framework is being rolled out to certain …
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30 Sep 2024 T-REX Article
No surprises here: ASIC extends Instruments as expected
As anticipated in HN Hub T-REX Regulatory Update ASIC to extend three everyday Legislative Instruments, published in August 2024, …
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30 Sep 2024 T-REX Article
Privacy reforms introduced to Parliament
The Government has introduced the first tranche of reforms to the Privacy Act 1988 into Parliament.
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30 Sep 2024 T-REX Article
Climate reporting and financial market infrastructure reforms arrive
The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 passed Parliament and received Royal Assent in September. …
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12 Sep 2024 Alert
Long awaited AML/CTF Amendments Introduced to Parliament
Following a lengthy consultation period, the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 was introduced to Parliament on 11 …
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30 Aug 2024 T-REX Article
What are design and distribution product governance arrangements? (T-REX Bites Featured Article)
The product design and distribution obligations (‘DDO’) regime, which commenced on 5 October 2021, introduced a new approach …
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30 Aug 2024 T-REX Article
Consultation
Proposed update to superannuation forecasts relief instrument. This ASIC proposal (with no Consultation Paper) is to update the rate …
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30 Aug 2024 T-REX Article
In brief
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30 Aug 2024 T-REX Article
AUSTRAC: new money laundering and terrorism financing risk assessments (Part 2)
As noted in HN Hub T-REX Regulatory Update, AUSTRAC: new money laundering and terrorism financing risk assessments, published in …
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30 Aug 2024 T-REX Article
ASIC updates guidance for trustees of unregistered managed investment schemes
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30 Aug 2024 T-REX Article
ASIC delivers financial advice update
On 9 August 2024, ASIC published its inaugural financial advice update addressing regulatory developments and issues affecting the provision of …
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30 Aug 2024 T-REX Article
ASIC reminds of the importance of delivering better retirement outcomes
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30 Aug 2024 T-REX Article
ASIC warns CFD issuers to cease “margin discounts” for retail clients
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30 Aug 2024 T-REX Article
Deadline draws near for new derivative transaction reporting rules
Licensees dealing in OTC derivatives should be gearing up to comply with the ASIC Derivative Transaction Rules (Reporting) 2024, …
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30 Aug 2024 T-REX Article
Electronic notification of periodic statements for quoted ED securities and ETFs
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30 Aug 2024 T-REX Article
ASIC focuses on insider trading: update your policies
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30 Aug 2024 T-REX Article
Mercer to pay $11.3 million greenwashing penalty
The Federal Court has ordered Mercer Superannuation (Australia) Limited to pay an $11.3 million penalty after Mercer admitted to making …
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30 Aug 2024 T-REX Article
SMSFs and speculative investments create toxic combo
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30 Aug 2024 T-REX Article
AFCA happenings
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30 Aug 2024 T-REX Article
ASIC releases 2024-25 Corporate Plan
ASIC has released its 2024-25 Corporate Plan outlining its key focus areas for the coming 12 months.
These areas include: …
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30 Aug 2024 T-REX Article
Is an Australian model for scam reimbursement on the horizon?
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30 Aug 2024 T-REX Article
ASIC wins case against crypto exchange operator for DDO failure
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30 Aug 2024 T-REX Article
ASIC sues ASX
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30 Aug 2024 T-REX Article
ASIC extends reference checking protocol to mortgage aggregators
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30 Aug 2024 T-REX Article
ASIC to extend three everyday Legislative Instruments
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30 Aug 2024 T-REX Article
“Knowingly concerned” – important information for licensees
A recent High Court case is likely to impact when a person could be regarded as involved in another person’s …
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13 Aug 2024 Alert
ASIC Margin Netting warning for CFD issuers
ASIC’s July Market Integrity Update (MIU), included an update warning CFD issuers to cease ‘margin discounts’ for retail clients. …
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31 Jul 2024 T-REX Article
T-REX: the secret of everlasting youth (T-REX Bites Featured Article)
At the grand old age of 20, you could say that T-REX is a true dinosaur.
But, while it has …
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31 Jul 2024 T-REX Article
Consultation
Delivering Better Financial Outcomes Tranche 1 – Draft Regulations. These draft regulations support the implementation of the Treasury Laws …
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31 Jul 2024 T-REX Article
In brief
Directors convicted for failing to have a director ID
Two Western Australian directors were fined $5,000 in the Perth Magistrates …
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31 Jul 2024 T-REX Article
AML/CTF reforms: update on second stage consultation
As outlined in previous updates, the proposed reforms to the AML/CTF legislation will implement changes to the obligations placed on …
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