Melanie Lo

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…

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

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In what has proven to be the best and worst of times for insurers, two recent Federal Court of Australia decisions shed further light on when an insurer may be able (or in the case of the second case, unable) to exercise its statutory rights in the event of non-disclosure. In All Class Insurance Brokers…

During April 2021, ASIC has used its product intervention powers to ban the sale of binary options to retail clients, as well as to extend temporary relief instruments amidst COVID-19. ASIC has also urged claims handling firms to lodge licences by next month. The superannuation sector has seen the release of exposure draft regulations to…