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Hawking Provisions Guide

Friday 24 September 2021

Compliance with Hawking Provision

The securities regulator has published further guidance to protect customers from being contacted about financial products without their consent.

This week Australian Securities and Investment Commissions (ASIC) published regulatory guide on Hawking provisions to help regulated entities meet their compliance obligations which should kick into ...

By Kwame Slusher

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Penalties 19 September 24 September

Friday 24 September 2021




A Short Penalties list 

The Australian Securities and Investments commission the has alleged that that Former Director Daniel Dixon made false and misleading statements to the securities and investments regulator about the D & E Dixon had no outstanding liabilities, but at the time of deregistration owed $26, 454.89.
 

 
Former Direct...

By Kwame Slusher

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Beware the ‘pump and dump’ & Market Manipulation

Friday 24 September 2021

 
stylus and screen with the markets--Companies need to comply with market integrity rules and avoid pump and dump campaigns

This week the Australian Securities and Investments commission (ASIC) expressed concern with the rise of ‘pump and dump schemes that seem to be on the rise.

For 2021 the regular has taken or is in the process of taking enforcement action this space. 

Dylan Rands has been banned from the financial services for 5 years for market manipulat...

By Kwame Slusher

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Independent Certification for insurance in super

Wednesday 22 September 2021


 
This week Australia’s prudential regulator has indicated that intend to go ahead with the independent certification requirement for related party arrangements when it comes to insurance in superannuation.

However, in letter to the superannuation industry, the Australian Prudential Regulatory Authority (APRA) they indicated that the requiremen...

By Kwame Slusher

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Podcast: Director Profile with Julie Winkler

Tuesday 21 September 2021




GRC Institute Director Julie Winkler talks about her professional development and her career on the GRC Professional Podcast.


GRC2021 Conference Registrations

Click here to register for GRC2021 Conference.    

By Kwame Slusher

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Penalties 13 September-17 September

Friday 17 September 2021






The securities regulator has permanently banned Ross Andrew Hopkins from providing financial; l services after being convicted of the 15 dishonesty offences. 

Hopkins has also been sentenced to six years in prison. 

Australian Securities and Investments Commission (ASIC) made three allegations against the former adviser for conduct be...

By Kwame Slusher

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The DDO Requirements

Friday 17 September 2021





 This week saw the securities regulator publish additional information of the design and distribution obligation obligations that are meant to come into force on 5 October.

On the regulator’s ‘what the financial industry needs to know page’ the securities regulator breaks down the consultations restatement of expectations and some FAQs for...

By Kwame Slusher

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Assessments to be Kept in Context

Friday 17 September 2021





Hunt & Hunt Lawyers Partner Andrew Ham told the GRC News Page that the recent industry risk assessments had been long awaited by the reporting entities. 

Recently the Australian Financial Intelligence Unit published industry assessments on key financial industries covered under the anti-money laundering and counter terrorist financing act....

By Kwame Slusher

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False & Misleading and CCI criminal Proceedings

Friday 17 September 2021


 


This week saw two banks facing criminal prosecutions for false and misleading conduct. 

A Failure in Systems and Processes

On Wednesday of this week the Australian Securities and Investments Commission (ASIC) highlighted that fact that ME Bank was before the Federal Court for false and misleading representations in relation to communic...

By Kwame Slusher

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Podcast: IFCA 2021

Thursday 16 September 2021





GRC Institute CEO Naomi Burley talks about the upcoming IFCA conference and the importance of professional development .

Mentioned in podcast IFCA Conference: 



Global Compliance and the Rule of Law:


By Kwame Slusher

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