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ASIC Media Release 

Citibank will refund more than $3.3 million to around 39,500 current and former customers for failing to refund customers when credit card accounts were closed with an outstanding credit balance.

Citibank will provide refunds for Citibank, Virgin Money, Bank of Queensland, Suncorp and Card Services branded credit cards and f...

By Kwame Slusher

ASIC Media Release 

Citibank has refunded around 4,000 current and former customers more than $1 million after misstating the bank’s obligations around unauthorised transactions on customers’ accounts.

Citibank had refused customers’ requests to investigate unauthorised transactions because it claimed the requests were made outside the time per...

By Kwame Slusher

Wednesday 8 November 2017



The Australian Competition and Consumer Commission (ACCC) has released it second self-assessment report that measures the regulator against the Government’s Regulator Performance Framework.

“The ACCC established a solid baseline with its first self‑assessment last year, which has allowed us to effectively measure and compare our performance fo...

By Kwame Slusher

Wednesday 8 November 2017



Maximise Your Digital Opportunities Whilst Managing Cyber Risk 


By Gareth Byatt
 
For any organisation pursuing a strategic path towards digitising its operations, its risk team should be at the forefront of setting out and structuring a strategy for sustainable digital success.
 
The digitisation of industry, commerce, and government is e...

By Kwame Slusher

ASIC Media Release

ASIC has banned Sergio Nicolo Belardo, a Perth-based former financial adviser with BBY Ltd (BBY), from providing financial services for ten years.

Mr Belardo was an Authorised Representative of BBY from September 2013 to May 2015 and in that role provided advice and dealing services to BBY retail clients in relation to financ...

By Kwame Slusher

ASIC Media Release

On 24 October 2017, Mr Ricky David Gillespie pleaded guilty in the Southport Magistrates Court to one rolled-up charge alleging the forgery of 33 documents (see
 16-144MR).

Mr Gillespie provided advice as a former representative of the Commonwealth Bank's financial planning subsidiary, Commonwealth Financial Planning Limited (...

By Kwame Slusher

ASIC Media Release

ASIC has cancelled the Australian financial services (AFS) licence of NSW-based Divitiarum Audax Pty Limited (Divitiarum Audax) and suspended the AFS licence of NSW-based Mackellar Financial Services Pty Ltd (Mackellar).

Mackellar's AFS licence has been suspended from 31 October 2017until 30 April 2018for failing to lodge fin...

By Kwame Slusher

ASIC Media Release

The China Securities Regulatory Commission ('CSRC') and Australian Securities and Investments Commission ('ASIC') have entered into an agreement to promote innovation in financial services in their respective markets.

The Information Sharing Co-operation Agreement further underlines the significance of the broader Australia-C...

By Kwame Slusher


ASIC Media Release

ASIC has obtained interim injunctions in the Federal Court against Gallop International Group Pty Ltd (GIG), Gallop Asset Management Pty Ltd (GAM) and Mr Ming-Chien Wang, freezing money held in their bank accounts and restraining them from carrying on a financial services business in Australia without holding an Australian Fin...

By Kwame Slusher


ASIC Media Release

Mr Lewis Anthony Wright Fellowes, a former strockbroker from Perth, Western Australia, has been sentenced in the Brisbane District Court on dishonesty charges brought by ASIC.

He had earlier pleaded guilty to one charge of dishonestly using his position with the intention of directly gaining an advantage for someone else an...

By Kwame Slusher