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Regulatory

ASIC issues stop orders on Holon funds

CASSANDRA BALDINI  |  MONDAY, 17 OCT 2022
ASIC has placed interim stop orders on Holon's unlisted Bitcoin, Ethereum, and Filecoin funds due to non-compliant target market determinations (TMDs) just months after their launch.

Government to boost paid parental leave

JAMIE WILLIAMSON  |  MONDAY, 17 OCT 2022
The federal government plans to extend the Commonwealth paid parental leave scheme to six months come 2026.

ASIC dishes out permanent ban to 'lifestyle' adviser

JAMIE WILLIAMSON  |  WEDNESDAY, 12 OCT 2022
A former Dover and Interprac financial adviser who was found to be unfit to operate in the industry in any capacity was permanently banned by the regulator.

APRA flags concerns over fund sustainability

ANDREW MCKEAN  |  WEDNESDAY, 12 OCT 2022
Appearing before the House of Representatives' Economics Committee, APRA's Margaret Cole said the regulator is concerned about some of the super funds that passed the performance test yet fail the regulator's own sustainability testing.

AFSL boss banned by ASIC

CASSANDRA BALDINI  |  TUESDAY, 11 OCT 2022
ASIC imposed banning orders on Quantum Funds Management managing director Peter Gribble for failing to pay $2.5 million in Australian Financial Complaints Authority determinations.

Regulators to face committee scrutiny

JAMIE WILLIAMSON  |  MONDAY, 10 OCT 2022
The ACCC, APRA and ASIC will front the House of Representatives Standing Committee on Economics tomorrow to discuss super fund underperformance, greenwashing and the rise of finfluencers.

Data sharing laws updated in response to Optus breach

JAMIE WILLIAMSON  |  FRIDAY, 7 OCT 2022
The government is proposing changes to the Telecommunications Regulations 2021 following the Optus breach that will impact how APRA-regulated entities respond to cybersecurity incidents and risks.

APRA unmasks fund outsourcing impacts

ANDREW MCKEAN  |  THURSDAY, 6 OCT 2022
APRA's thematic review on outsourcing arrangements in the superannuation industry found that trustees' efforts since the Royal Commission have resulted in stronger board oversight and monitoring of outsourcing arrangements and service providers.

Throw out financial services law clutter: ALRC

ANDREW MCKEAN  |  WEDNESDAY, 5 OCT 2022
The Australian Law Reform Commission's (ALRC) second interim report to reduce complexity in financial services legislation proposes an alternative model that's more coherent and principled, and "embraces minimalism."

UK regulator to inspect advice and guidance rules

CASSANDRA BALDINI  |  TUESDAY, 4 OCT 2022
A review of the boundaries between advice and guidance will be carried out by the Financial Conduct Authority (FCA).