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Showing 1 - 10 of 115 results for "Regulatory Guide"

Experts issue warning over AI washing

ANDREW MCKEAN  |  MONDAY, 11 MAR 2024
... that if you're making a representation about the way in which your company uses AI, it must be true," she says. Regulatory Guide 234 also mandates that businesses promoting financial products and services must avoid any misleading or deceptive tactics. ...

ASIC updates breach reporting rules

KARREN VERGARA  |  FRIDAY, 20 OCT 2023
... regular reviews or audits of the number of breaches reported and identify any trends in reports, as outlined in Regulatory Guide 78 Breach reporting by AFS licenses and credit licensees (RG 78)," ASIC said. Under the new amendments, licensees also no ...

Licensees shun remediation obligations: ASIC

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... framework that lacks appropriate oversight and accountability. ASIC measured large licensees against standards in Regulatory Guide 277 Consumer Remediation and found several gaps that could lead to poor consumer outcomes. Many are narrowing the remediation ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... engaging with their own members. As an example, he uses the current state of retirement income products. ASIC Regulatory Guide 38 The hawking prohibition states that a trustee can call a member "with information about different retirement income products ...

ASIC updates breach reporting guidelines

KARREN VERGARA  |  FRIDAY, 28 APR 2023
... can help reduce regulatory burdens for financial advisers. The corporate watchdog detailed several changes to Regulatory Guide 78 Breach reporting by AFS licensees and credit licensees, following consultation from the likes of super funds, financial ...

Material business risk disclosure needs improvement: ASIC

KARREN VERGARA  |  MONDAY, 13 FEB 2023
... financial position and business strategies, and prospects for future financial years, Hughes said. According to Regulatory Guide 247, the OFR allows shareholders to find relevant information on the company in a single location, rather than having to ...

Crescent Wealth responds to PDS error criticism

ANDREW MCKEAN  |  THURSDAY, 1 DEC 2022
... members. "Crescent Wealth wishes to clarify facts concerning the fund's compliance with ASIC's revised Regulatory Guide 97 (RG97) and to reassure fund members that proactive steps have been taken to avoid a repeat of past reporting oversight ...

Tech providers support QAR SOA proposals

CASSANDRA BALDINI  |  THURSDAY, 29 SEP 2022
Financial planning technology providers have agreed with the Quality of Advice Review's (QAR) proposal to remove Statements of Advice. Advice Intelligence founder and chief executive Jacqui Henderson said QAR chair Michelle Levy makes a critical ...

ASIC updates remediation rules

CHLOE WALKER  |  TUESDAY, 27 SEP 2022
... financial system. A further $1.6 billion is yet to be paid to about 2.7 million consumers. ASIC has updated its Regulatory Guide 277 (RG 277) following two years of public consultation with both consumer and industry stakeholder s. The updated guide ...

ASIC flags 'significant' IDR compliance issues at super funds

JAMIE WILLIAMSON  |  WEDNESDAY, 10 AUG 2022
... undertaking surveillance of super funds' internal dispute resolution processes, examining compliance with Regulatory Guide 271 Internal dispute resolution (RG 271) which took effect last October. ASIC has so far analysed data from a selection of ...
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