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Monday 30 October 2017



Last week saw the launch of Insurtech Australia in the QBE Insurance offices at the Citibank Centre.

Brenton Charnley, Lead and Co-founder of Insurtech Australia, an arm of Fintech Australia, said insurance as a product has been around for some time and has not changed very much, but technology is touching the consumer more than it ever has be...

By Kwame Slusher

Monday 30 October 2017



The Federal Court has imposed the first civil penalty on a financial services licensee for breaches in best interest duty.

The $1 million penalty is against Melbourne-based financial advice firm, NSG Services, now known as Golden Financial Group, for breaches in best interests introduced as part of the Future of Financial Advice (FOFA) ...

By Kwame Slusher

Friday 27 October 2017



The Australian Competition and Consumer Commission (ACCC) announced the passing of the Competition and Consumer Amendment (Competition Policy Review) Bill.


“The reforms also bring changes to the options available to merger parties to have their transactions cleared on either competition or net public benefit grounds. The merger authorisation...

By Kwame Slusher


ASIC Media Release

Mr Shane Thompson, of New Gisborne, Victoria, has pleaded guilty in the Melbourne Magistrates' Court to two charges that he forged and submitted financial planning documents for his own personal gain.

The charges, brought by ASIC, allege that between 27 December 2012 and 1 March 2013, Mr Thompson completed 22 false 'Change ...

By Kwame Slusher

ASIC Media Release

ASIC has released a suite of new and updated guidance for the funds management industry for consultation.

The six new and updated regulatory guides have been developed in advance of the upcoming new Asia Region Funds Passport and corporate collective investment vehicle (CCIV) legislation, taking into account these new ...

By Kwame Slusher

Wednesday 25 October 2017


The second day of the conference got off to an early start with Mark Pulvirenti, Partner at Control Risks, presenting at the Alumni Breakfast about the importance leveraging data and data analytics.
 
The day then officially started with Gus Balbontin, who raised awareness of the tendency of organisations and teams to concretise their systems and...

By Kwame Slusher

ACCC Media Release

The Federal Court has ordered penalties totalling $750,000 against MSY Technology Pty Ltd, MSY Group Pty Ltd, and M.S.Y. Technology (NSW) Pty Ltd (MSY Technology) for misrepresenting consumers’ rights to remedies for faulty products.

MSY Technology operates 28 retail stores across Australia and online, selling computers, comp...

By Kwame Slusher


ASIC Media Release

Mr Glyn Leonard Raines, the former Chief Financial Officer of Hastie Services Pty Limited, (Hastie Services) (in external administration) has been sentenced to two years imprisonment to be served by way of an intensive corrections order on charges brought by ASIC.

Mr Raines' sentence was finalised on 20 October 2017 in the ...

By Kwame Slusher

Monday 23 October 2017



* This article was originally published in the Conference Edition of the GRC Professional.

* Please click here to download a PDF version of this article.



by Evelyne Albreacht 

Audacity is not normally a term that people associate with compliance, especially considering that according to the Oxford Dictionary, audacity means ‘a willingn...

By Kwame Slusher

Friday 20 October 2017



The Australian Securities and Investments Commission (ASIC) and the Financial Markets Authority (FMA) have deepened their relationship by signing a fintech memorandum of understanding (MOU).

“ASIC and the FMA have a strong relationship in all the areas we regulate. Our mutual commitment to innovation and fintech is no different. We’ll continue...

By Kwame Slusher