This article was co-authored by Michele Beck, Tom Clark, Masooma Saberi, and Vivian Truong.
In October 2024, the Australian Securities and Investments Commission (ASIC) was successful in its action against a life insurer in relation to misleading statements. ASIC issued or proposed updates in relation to licensing and professional registration activities, OTC derivative transaction reporting
This article was co-authored with Michele Beck, Tom Clark, Masooma Saberi and Vivian Truong.
In September 2024, ASIC continued to focus on regulatory and enforcement action in the superannuation industry by:
In our latest podcast, our global Financial Services team covers recent regulatory and enforcement developments in the UK, US, Australia and Dubai in relation to off-channel messaging, as well as practical steps that global firms can be taking now in this area to manage their risk.
Listen to the episode here.
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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
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
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
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
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,