On 24 June 2025, Australian Prudential Regulation Authority (APRA) Deputy Chair Margaret Cole issued a letter to all registerable superannuation entity (RSE) licensees setting out the regulator’s observations, examples of better practice and areas for improvement to support RSE licensees’ compliance with their legal duties, including the best financial interests duty
Financial services wrap – November 2024–January 2025
This article was co-authored with Michele Beck, Tom Clark, Masooma Saberi, Hasan Mohammad and Vivian Truong.
Between November 2024 and January 2025, the Australian Securities and Investments Commission (ASIC) released draft guidance for the new sustainability reporting regime, as well as guidance on the financial Advisor reforms in the Treasury Laws Amendments (Delivering Better Financial
Financial Services Wrap – September 2024
- releasing public notes from the latest Superannuation CEO Roundtables;
- publishing REP 794 ASIC enforcement and regulatory update: January to June 2024; and
- updating the
Financial Services Wrap – July and August 2024
July and August saw significant developments in Australia’s financial services landscape. Notably, ASIC acknowledged the royal assent of the Treasury Laws Amendments (Delivering Better Financial Outcomes and Other Measures) Act 2024 (DBFO Act), which forms part of the Delivering Better Financial Outcomes package and represents the Government’s response to certain Quality of Advice recommendations. In
FS Monthly Wrap-Up – May 2024
Authors: Ray Giblett, James Morris, Liz Hastilow, Rajaee Rouhani, Jeremy Moller, Charles Nugent-Young, Merren Taylor, Timothy Chan, Joshua Kan, Liam Mackay, Mia Blundell and Marc Kopelowitz.
The months of May and June saw several significant developments in the financial services regulatory landscape. Notably, ASIC focused its attention on ESG-related concerns, with Chair Joe Longo
FS Monthly Wrap-Up – February to April 2024
Authors: Liz Hastilow, Ray Giblett, James Morris, Rajaee Rouhani, Stephen Lee, Jeremy Moller, Charles Nugent-Young, Merren Taylor, Timothy Chan, Joshua Kan, Steven Li, Liam Mackay and Mia Blundell.
Regulatory activity in the financial services sector picked up between February and April 2024. Notably, ASIC made an opening statement before the public inquiry into insurers’ responses
FS Monthly Wrap-Up – November 2023 to January 2024
Authors: Ray Giblett, James Morris, Rajaee Rouhani, Stephen Lee, Jeremy Moller, Charles Nugent-Young, Merren Taylor, Timothy Chan, Joshua Kan, Dylan Sault and Steven Li
Welcome to our first wrap up of the year! We are looking forward to sharing more updates with you this year.
November 2023
The month of November saw many new developments
FS Monthly Wrap-Up – October 2023
October was another busy month in the financial services regulatory space. ASIC issued a number of new legislative instruments to continue the relief available under sunsetting class orders, while also removing certain notification obligations under the reportable situations regime. Interestingly, these changes were followed by ASIC’s second publication on insights from the reportable situations regime,
Financial services monthly wrap-up: December 2022 and January 2023
As 2022 came to a close, the regulators concluded the year with a busy month in December. Notably, ASIC ended the year by reminding stakeholders of the importance of ensuring that claims made in relation to a product were accurate, especially in the context of environmental claims, reflecting ASIC’s increased focus on greenwashing in 2022.