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Regulatory

New NALE rules, AFCA's super powers passed

KARREN VERGARA  |  THURSDAY, 27 JUN 2024
Laws that regulate how superannuation funds deal with NALE and NALI and expands AFCA's remit over super passed Parliament on June 25.

ASIC alerts licensees to experienced pathway deadlines

ANDREW MCKEAN  |  WEDNESDAY, 26 JUN 2024
ASIC has issued a reminder to the Australian Financial Services (AFS) licensees regarding the upcoming notification obligations related to the new experienced provider pathway.

Ascot Securities hit with infringement notice for 'serious failures'

ANDREW MCKEAN  |  THURSDAY, 20 JUN 2024
Ascot Securities was issued an infringement notice by the Markets Disciplinary Panel (MDP) in November last year for serious failures, resulting in a $3.1 million penalty and a requirement to enter an enforceable undertaking. However, Ascot chose not ...

Court freezes assets of Keystone AM managed fund

ELIZA BAVIN  |  THURSDAY, 20 JUN 2024
The financial regulator obtained interim orders from the Federal Court to freeze the assets of the Shield Master Fund.

ASIC calls out licensees: 'We will take action'

ELIZA BAVIN  |  THURSDAY, 20 JUN 2024
ASIC commissioner Alan Kirkland said the regulator was done warning licensees to lift their game.

Trustee boards fail to challenge unlisted valuations: APRA

JAMIE WILLIAMSON  |  THURSDAY, 20 JUN 2024
APRA says there is room for improvement when it comes to trustees' oversight of unlisted asset valuations.

ASIC appeals judge's call to not penalise Block Earner

JAMIE WILLIAMSON  |  TUESDAY, 18 JUN 2024
ASIC is appealing the Federal Court's recent decision to not issue a penalty to Block Earner after it was found to have provided unlicensed financial services.

Will ASIC use AI for advice compliance monitoring?

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
The rapid expansion of artificial intelligence (AI) applications in the financial advice industry has led to a prediction that ASIC could soon incorporate AI into its compliance and audit checks of advisers.

APRA updates industry on operational resilience guidance

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
CPS 230 will come into effect from 1 July 2025.

AFCA seeks industry feedback on approaches

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.