Regulatory Updates

The Attorney General’s Department has launched the second stage consultation on proposed reforms to Australia’s anti-money laundering and counter-terrorism financing …

A recent report from ASIC has found that large home lenders should be doing more to support people in hardship. …

ASIC released a statement calling for superannuation trustees to renew efforts in protecting members from unscrupulous advisers. This follows a …

Following an ASIC investigation, the DPP has taken action in the Downing Centre Local Court against John Bigatton, former national …

ASIC released Information Sheet 281 FAQS: Relevant providers – Accessing the experienced provider pathway (INFO 281) to provide …

ASIC made two interim stop orders preventing Trademax Australia Limited from opening trading accounts or dealing in CFDs or margin …

Following an ASIC investigation, the Markets Disciplinary Panel fined J.P. Morgan Securities Australia Limited $775,000 for permitting suspicious client orders …

AFS Licensee Odyssey Equity Finance Pty Ltd was sentenced in the Dandenong Magistrates’ Court for failing to lodge financial reports …

Between 1 January to 31 March 2024, ASIC banned four directors from managing corporations following their role in the collapse …

ASIC has published Information Sheet 282 Unsolicited contact leading to financial advice (INFO 282), which outlines how financial …

ASIC’s recent actions against advisers for dishonest conduct serve as a reminder for licensees to ensure reasonable steps are being …

ASIC has won its first court case regarding a non-cash payment facility involving crypto assets in the Federal Court. Despite …

Mortgage lender Firstmac has been hit by a cyber attack, with customer data leaked online.

According to ABC News, …

In AFCA Determination 716627, AFCA required a financial advisory firm to pay the corporate trustee of an SMSF $254,312.72 …

Over nine thousand complaints were lodged with AFCA in April 2024. This represents a 33 per cent increase on the …

ASIC chair Joe Longo made an opening statement at the Parliamentary Joint Committee on Corporations and Financial Services, Oversight of …

ASIC has today released guidance on the experienced adviser pathway. This follows the making of legislation in September last year …

Ask Optus. Its 14-hour national outage on 8 November 2023 led to a Parliamentary inquiry, the resignation of its then …

Standardising natural hazard definitions and reviewing standard cover for insurance. This Treasury Consultation Paper seeks feedback on potential natural …

No-action position on financial reporting obligations

ASIC announced that it adopted a no-action position on the financial reporting obligations of …

FATF has released its report detailing the implementation status of Recommendation 15 by its members and jurisdictions with significant Virtual …

FATF has published an updated mutual evaluation report on Australia’s progress in strengthening measures to tackle money laundering and terrorist …

In a recent move to strengthen Australia’s financial integrity, AUSTRAC has taken decisive action against non-compliance within the business sector. …

In 2022, ASIC commenced proceedings against credit licensee Sunshine Loans Pty Ltd, alleging that it collected fees of over $300,000 …

The Federal Court has ordered Macquarie Bank Ltd to pay a penalty of $10 million for failing to have effective …

ASIC is appealing the Federal Court decision to dismiss its proceedings against Auto & General Insurance Company Limited regarding an …

ASIC has commenced civil penalty proceedings against three blockchain mining companies NGS Crypto Pty Ltd, NGS Digital Pty Ltd and …

ASIC issued civil penalty proceedings against a wholesale licensee, Lanterne Fund Services Pty Ltd, that operated a “licensee for hire” …

Upon an application from ASIC, the Federal Court ordered that Prospero Markets Pty Ltd be wound up on just and …

ASIC has appealed the Finder Wallet decision that was handed down by the Federal Court last month.

ASIC explains that …

On 27 March 2024, the Government introduced legislation to implement some of the recommendations arising out of the Quality of …

The Federal Court of Australia has found that Vanguard Investments Australia Ltd breached provisions of the ASIC Act 2001 when …

On 27 March 2024, the Government introduced the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 to …

In AFCA Determination 784331, AFCA required a broker to pay a complainant compensation of $46,253.50 as compensation for 50 …

AFCA held its latest member forums in March 2024.

Chief Ombudsman and CEO David Locke noted that AFCA’s current complaint …

AFCA published its fees and charges for the financial year ending 30 June 2025. These fees will apply to complaints …

From 17 June 2024, ASIC’s new Professional Registers Search will go live and replace the existing professional register searches. …

Provide Nominees Pty Ltd has failed in its attempt to prevent an ASIC investigation.

ASIC commenced a formal investigation of …

The ASIC Corporations and Credit (Reference Checking and Information Sharing Protocol) Instrument 2021/429 (the Protocol) sets out the …

Draft AUSTRAC Guidance 2024 – Outsourcing AML/CTF Obligations. This draft guidance, released by AUSTRAC, aims to help organisations comply …

New DTR legislative instrument

ASIC Derivative Transaction Rules (Reporting) 2024 Amendment Instrument 2024/1 has been registered. It amends the ASIC …

FATF has released update guidance on beneficial ownership and transparency of legal arrangements, following revisions to Recommendation 25.

The Guidance …

AUSTRAC has issued a reminder to stay alert for scams, following a fake AUSTRAC website being identified.

Scammers often pretend …

AUSTRAC has commenced an enforcement investigation into online betting company bet365 (Hillside (Australia New Media) Pty Ltd).

Whilst bet365 operates …

The Australian Government has announced an independent review of Australia’s credit reporting framework. Heidi Richards, a former APRA senior executive, …

AFCA determination 916180 is a reminder that financial firms must comply with the restrictions placed on them by virtue of …

ASIC has remade five Class Orders for managed funds, where the Class Orders were due to expire on 1 April …

The Federal Court has found that a term in an insurance contract requiring policyholders to notify the insurer of changes …

ASIC has issued a letter reminding insurers of their obligations as AFS licensees when handling insurance claims, especially in response …

ASIC has reminded AFS licensees and relevant providers that registration requirements are ongoing.

New registration will be required:

• after a …