The corporate regulator has called for industry feedback on its guidance for the new crowd-sourced funding regime, which is set to commence on 29 September 2017.
The custody practices of Australian financial institutions have been found wanting in a number of instances, including failures to manage conflicts of interest.
ASIC chairman Greg Medcraft has warned fund managers about “structural vulnerabilities” in the sector that could present “financial stability risks”.
ASIC is investigating a number of financial planning dealer groups that advisers perceive as “licensees of last resort” as part of its crackdown on poor reference-checking processes.
A Senate report released yesterday has recommended the government’s bank levy be reviewed after two years to asses its efficacy and its effect on banking competition.
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