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Regulation

regulation

20 April 2018 • By • 1 min read

ASIC penalties to be further strengthened

ASIC will be able to jail corporate criminals for as long as 10 years under changes to the Corporations Act announced by the government today

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Our advice supervision ‘failed’: Westpac

Westpac has admitted its system for monitoring its salaried advisers failed as the royal commission heard evidence from an aggrieved customer of the ...

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‘Fees for no service’ under the spotlight

Ten days of royal commission hearings kicked off yesterday, with the fraudulent practice of advice businesses charging ‘fees for no service’ ...

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CBA enters new EU on advice fees

CBA has entered into an enforceable undertaking with ASIC over the actions of two wealth management subsidiaries, with the bank's new chief executive ...

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ASIC cancels Octani Capital's licence

Perth-based corporate advisory practice Octani Capital has had its Australian financial services licence cancelled by ASIC. Octani Capital, a ...

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Industry has forced ASIC's hand: Shipton

New ASIC chairman James Shipton has rebuked the finance sector for failing to "play its part" in the regulatory system, leaving agencies like ASIC ...

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AUSTRAC begins oversight of cryptocurrency

AUSTRAC has implemented new laws that will see it regulate digital currency exchanges operating in Australia. The new laws came into effect on ...

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BEAR consultation opened to industry

The federal government has introduced a new legislative instrument relating to the Banking Executive Accountability Regime and is seeking feedback ...

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ASIC accepts enforceable undertaking from ANZ

ANZ has entered an enforceable undertaking with ASIC for failing to fairly compensate customers for services they paid for and never received

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ASIC resistant to role as ‘competition champion’

ASIC has welcomed a Productivity Commission proposal to alter its mandate, but is hesitant to become an enforcer of competition laws. In ASIC’s ...

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