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Showing 11 - 16 of 16 results for "Reportable Situations Regime"

Licensees pay $92m in compensation

ELIZA BAVIN  |  FRIDAY, 1 NOV 2024
ASIC has released its third publication on information lodged under the reportable situations regime. The publication provides high-level insights into reporting trends from 1 July 2023 to 30 June 2024, and covers licensee population reporting, breach ...

ASIC extends two advice instruments

KARREN VERGARA  |  WEDNESDAY, 25 SEP 2024
... proposed," ASIC said. In terms of other feedback, submissions advocated for wider relief from the reportable situations regime, which AISC said it will consider. Two submissions advocated for migrating the relief and/or requirements to the primary law. ...

ASIC calls out licensees: 'We will take action'

ELIZA BAVIN  |  THURSDAY, 20 JUN 2024
... regulator has spent two years warning licensees to lift their game when it comes to compliance with the reportable situations regime, and from now on its focus will be on enforcement. "The regime has now been in effect for almost three years - but the ...

Licensees flout breach reporting regime: ASIC

KARREN VERGARA  |  WEDNESDAY, 1 NOV 2023
ASIC warned it is taking tougher action on licensees as they fail to comply with the reportable situations regime two years on. Of the 16,836 reports ASIC received from financial services and credit licensees in the year to June 2023, 17% took over ...

ASIC updates breach reporting rules

KARREN VERGARA  |  FRIDAY, 20 OCT 2023
ASIC is making changes to its reportable situations regime, which includes extending the reporting deadline for some breaches. Licensees will now have 90 days to submit a reportable situation instead of 30 days in situations that have "underlying circumstances ...

Breach reporting improvements needed: ASIC

JAMIE WILLIAMSON  |  FRIDAY, 28 OCT 2022
Just 6% of licensees lodged a breach report in the first nine months of the reportable situations regime, with ASIC raising concerns that licensees still lack the systems and policies to identify and address issues. ASIC has released insights from the ...
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