Regulatory Updates
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30 Sep 2022 T-REX Article
Consultation on financial adviser education standards
The Government has consulted this month in relation to the financial adviser education standards.
Financial adviser education standards – Consultation …
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30 Sep 2022 T-REX Article
ASIC warns brokers on high risk offers to retail clients
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30 Sep 2022 T-REX Article
Life insurance claims handling concerns
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30 Sep 2022 T-REX Article
ASIC’s five year plan for super
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30 Sep 2022 T-REX Article
Plot thickens for litigation funding schemes
Following a Full Federal Court decision in June, the Government is consulting on Draft Corporations Amendment (Litigation Funding) Regulations 2022 …
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30 Sep 2022 T-REX Article
More DDO interim stop orders
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30 Sep 2022 T-REX Article
Managed funds to lift their game in marketing
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30 Sep 2022 T-REX Article
Dixon Advisory fined for breach of best interest obligations
The Federal Court proceeding commenced by ASIC against Dixon Advisory and Superannuation Services Limited (Dixon Advisory) in September …
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30 Sep 2022 T-REX Article
AMP entities fined for fees for no service
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30 Sep 2022 T-REX Article
Work continues on AFCA’s Awareness and Accessibility Strategy
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30 Sep 2022 T-REX Article
AFCA hits pause on some complaints
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30 Sep 2022 T-REX Article
Licence cancellations and suspensions
ASIC continues to be active with cancelling and suspending AFS licences where they are not being used or where key …
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30 Sep 2022 T-REX Article
New inquiry into Corporate Insolvency
The Parliamentary Joint Committee on Corporations and Financial Services has started a new inquiry into the effectiveness of Australia’s corporate …
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30 Sep 2022 T-REX Article
Change your “.com.au” domain name to “.au”
This content is a little ‘out of the ordinary’ for T-REX, but relevant to any business with its own domain …
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30 Sep 2022 T-REX Article
New remediation guidance for AFS and credit licensees
ASIC has released new Regulatory Guidance 277 on client remediation. Unlike its predecessor, RG 256, ASIC’s new guidance applies to …
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30 Sep 2022 T-REX Article
How ASIC intends to pursue its focus areas and improve communication
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30 Sep 2022 T-REX Article
OAIC recommends stronger privacy protection after its review of the Credit Reporting Code
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30 Sep 2022 T-REX Article
What’s on the privacy radar in 2022-2023
The Office of the Australian Information Commissioner has released its Corporate Plan 2022-23. This gives insight into what lies …
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30 Sep 2022 T-REX Article
Stronger unfair contract terms regime one step closer
The Treasury Laws Amendment (More Competition, Better Prices) Bill 2022, which includes the proposed changes to the unfair contract …
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30 Sep 2022 T-REX Article
ASIC tidies up regulatory guidance for PDSs, super dashboards and FSGs
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30 Sep 2022 T-REX Article
Government out to spring clean Treasury laws
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30 Sep 2022 T-REX Article
Financial reporting deadline extension – now in place
ASIC announced in July that it would extend the deadline for unlisted entities (including AFS licensees) to lodge financial reports. …
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30 Sep 2022 T-REX Article
Outstanding Royal Commission and SACC Review measures addressed
The Government has introduced into Parliament legislation to implement two major outstanding measures arising from the Hayne Royal Commission recommendations …
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29 Sep 2022 Alert
Federal Court dismisses ASIC’s conflicted remuneration proceedings against CBA
ASIC alleged that from 1 July 2013 to 30 June 2019, Colonial First State Investments Limited (CFSIL) gave CBA benefits …
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28 Sep 2022 Alert
ASIC releases new regulatory guide on consumer remediation
ASIC has just released updated regulatory guidance to help financial firms to quickly and effectively remediate their customers.
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31 Aug 2022 T-REX Article
Triple Beef Patties – the key ingredient to time critical advice (T-REX Bites Feature Article)
Providing a client with the necessary disclosures in time critical cases can be likened to a fast-food, rush hour drive-through …
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31 Aug 2022 T-REX Article
Consultation
The following items were open for consultation in August 2022:
FATF Revision of Recommendation 25 – White Paper for Public …
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31 Aug 2022 T-REX Article
In brief
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31 Aug 2022 T-REX Article
FATF to host beneficial ownership webinar
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31 Aug 2022 T-REX Article
FATF releases updated consolidated assessment ratings for August 2022
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31 Aug 2022 T-REX Article
AUSTRAC partners with Pacific Islands to combat money laundering
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31 Aug 2022 T-REX Article
Cuckoo smurfing case stalls
Regular readers of HN Hub T-REX Regulatory Updates may recall a small article on a cuckoo smurfing case in HN …
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31 Aug 2022 T-REX Article
Token mapping consultation to start soon
The Government plans to release a public consultation paper in relation to “token mapping” soon.
This is part of a …
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31 Aug 2022 T-REX Article
CFDs margin representations found not to relate to financial product or service
A recent Federal Court case took an interesting view of representations regarding payment of margin pursuant to a CFD.
The …
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31 Aug 2022 T-REX Article
Upcoming consultation on financial adviser professional standards
The Government has announced proposed consultation in relation to three areas covered by financial adviser professional standards:
- education requirements
- the …
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31 Aug 2022 T-REX Article
Tax (financial) advice services – decoding updates to Information Sheet 268
Regular T-REX readers will recall that, last month, ASIC updated Information Sheet 268 FAQs: Regulation and registration of relevant providers …
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31 Aug 2022 T-REX Article
Financial Services and Credit Panel and advisers’ rights
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31 Aug 2022 T-REX Article
Licence cancelled due to conflicts of interest failures
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31 Aug 2022 T-REX Article
Compensation for advice misconduct
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31 Aug 2022 T-REX Article
Quality of Advice proposes major reforms
The Quality of Advice Review has moved to the next phase, releasing the Quality of Advice Review – Consultation Paper …
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31 Aug 2022 T-REX Article
Retail insurance as part of bundled business insurance
Insurers and brokers may be relieved to hear that ASIC has clarified their obligations when offering retail insurance as part …
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31 Aug 2022 T-REX Article
Super consolidation advice results in penalty
The Federal Court has delivered a judgment in relation to penalties for breaches of the law related to advice to …
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31 Aug 2022 T-REX Article
ASIC calls on super trustees to improve TMDs
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31 Aug 2022 T-REX Article
Disclosure – environment, sustainability and climate
Disclosure in relation to environment, sustainability and climate is gaining increasing attention in the regulatory landscape.
Recent communications from the …
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31 Aug 2022 T-REX Article
ASIC bans director for lack of professionalism and judgment
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31 Aug 2022 T-REX Article
Stop orders keep coming
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31 Aug 2022 T-REX Article
First DDO stop orders
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31 Aug 2022 T-REX Article
AFCA member forums
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31 Aug 2022 T-REX Article
AFCA small business complaints
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31 Aug 2022 T-REX Article
ASIC expresses concerns with IDR in superannuation