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Showing 1 - 10 of 24 results for "reportable situations"

Mercer Super fined $10.3m for reportable situations failures

KARREN VERGARA  |  MONDAY, 29 JUN 2026
Mercer Superannuation Australia will pay a $10.3 million penalty after it admitted to breaching the Reportable Situations Regime on several occasions, which the Federal Court found could have had the "potential to have a detrimental effect on members." ...

ASIC returns $40m of CFD losses

ELIZA BAVIN  |  TUESDAY, 20 JAN 2026
... derivative transaction reporting requirements, after the review identified over 70 million erroneous reports; and reportable situations lodged by issuers increased by 127% compared to the previous year, reflecting greater compliance awareness and responsiveness. ...

ASIC to release IDR and reportable situations data

ELIZA BAVIN  |  FRIDAY, 26 SEP 2025
... its approach to publishing two public-facing dashboards containing Internal Dispute Resolution (IDR) and Reportable Situations (RS) data. ASIC said the approach was determined following consideration of 47 submissions received in response to CP 383 Reportable ...

ASIC, APRA outline regulatory reform opportunities

ELIZA BAVIN  |  FRIDAY, 5 SEP 2025
... "The 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 ...

ASIC culls red tape, sets sights on more

ELIZA BAVIN  |  WEDNESDAY, 3 SEP 2025
... and 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 ...

Account number issue causes angst, undue admin work: FAAA

KARREN VERGARA  |  WEDNESDAY, 13 AUG 2025
... (FAAA). Consent forms missing an account number has resulted in advisers submitting a substantial number of reportable situations to ASIC that can be considered as a breach report, FAAA general manager of policy, advocacy and standards Phil Anderson ...

Licensee compliance head banned over fees for no service

MATTHEW WAI  |  WEDNESDAY, 9 JUL 2025
... financial 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 ...

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 ...
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