September continued to be a busy month in the funds, super and insurance sectors, as the industry is in the final stages of preparing for the anticipated breach-reporting, anti-hawking reforms and new customer complaints handling requirements which are effective from October. Notably, ASIC has provided further guidance on each of these topics to assist the
Financial services monthly wrap-up
The month of August 2021 saw a release of anticipated updates to the upcoming changes in the funds management, superannuation and insurance sectors. Notably, Treasury has released the draft updated Corporate Collective Investment Vehicle fund legislation and tax framework, the release of the first Your Future Your Super performance test results and APRA and ASIC
Financial services monthly wrap-up July 2021
The month of July 2021 saw the release of various anticipated consultations for the financial services sector.
In this wrap-up, we feature:
- ASIC’s consultation on the Financial Accountability Regime (FAR) draft bill which is set to improve the risk and governance cultures of the banking, insurance and superannuation sectors.
- Guidance on hawking reforms
Financial services monthly wrap-up – March 2021
March 2021 has seen the release of legislative reforms to advice fee consent and lack of independence disclosure by financial advisers. ASIC has clarified its position on virtual AGMs and released an interim report on competition in the managed funds industry. APRA has urged life insurers and superannuation funds to ensure their insurance offerings and