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 improve the superannuation system, containing proposed changes to the “Your Future, Your Super” package, and APRA has released consultations on the reinsurance market, the risks of climate change and remuneration.

More information on these developments, as well as other industry news can be found here.