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Showing 1 - 10 of 16 results for "Reportable Situations Regime"

ASIC, APRA outline regulatory reform opportunities

ELIZA BAVIN | FRIDAY, 5 SEP 2025

... most promising areas for specific law reform are in relation to more substantially simplifying the reportable situations regime to reduce burden and improving substantial holding notices to make them less difficult to navigate," Longo said. "We are already ...

ASIC culls red tape, sets sights on more

ELIZA BAVIN | WEDNESDAY, 3 SEP 2025

... working closely with Treasury to explore broader opportunities for reform. The paper highlighted the reportable situations regime and substantial holding notices as two key reforms that it is discussing with Treasury. "The reportable situations regime ...

Mercer Super sued over 'longstanding and systemic' failures

JAMIE WILLIAMSON | THURSDAY, 14 AUG 2025

... investigations at all, while another was reported more than a year later than it should have been. Under the Reportable Situations Regime, all AFSL holders must notify ASIC of a reportable situation - in this instance, a significant breach of 'core ...

Licensee compliance head banned over fees for no service

MATTHEW WAI | WEDNESDAY, 9 JUL 2025

... services licence (AFSL) was cancelled after the group was placed into voluntary administration. The reportable situations regime requires licensees to notify ASIC of reportable situations. ASIC published its Regulatory Guide 78 Breach reporting by AFSL ...

ASIC releases new relief for reportable situations regime

KARREN VERGARA | MONDAY, 30 JUN 2025

ASIC has provided AFSLs new reliefs to help them manage the reportable situations regime, which includes extending the length of investigations reportable from 30 days to 60 days. Also in the relief, ASIC is exempting the reporting of certain breaches ...

ASIC blasts managed funds' poor compliance plans

KARREN VERGARA | MONDAY, 2 JUN 2025

... falling short of their obligations to adequately address design and distribution obligations (DDO), the reportable situations regime and internal dispute resolution processes and reporting (IDR), an ASIC review found, warning that such inadequate compliance ...

ASIC asks for input on reportable situations, IDR dashboards

JAMIE WILLIAMSON | THURSDAY, 10 APR 2025

... technical problems (10%). Also in December, ASIC said licensees have some way to go in complying with the reportable situations regime. Reviewing the compliance arrangements of 14 licensees that had few or no situations reported between October 2021 ...

ASIC proposes further breach reporting relief

ANDREW MCKEAN | WEDNESDAY, 19 FEB 2025

... financial loss. The relief is intended to ease the compliance load on financial services firms under the reportable situations regime, which requires a prompt identification, fixing, and reporting of potential misconduct. "ASIC's proposed additional ...

More work to do on reportable situations compliance, ASIC says

JAMIE WILLIAMSON | WEDNESDAY, 4 DEC 2024

... report to ASIC because of deficient internal processes and poor monitoring of compliance with the reportable situations regime, a review found. Recent surveillance by ASIC found financial services and credit licensees have some way to go in ensuring ...

ASIC sues Cbus over insurance claim delays: 'We're sorry'

ELIZA BAVIN | TUESDAY, 12 NOV 2024

... November 2022 and February 2023 but did not report it to ASIC within 30 days as required under the reportable situations regime. ASIC says when the issue was reported in August 2023 and September 2023, Cbus wrongly claimed the issue was not ongoing and ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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