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ASIC Media Release

On 27 June 2017 the Malaysia Securities Commission ('SC') and ASIC signed a Co-operation Agreement which provides a framework for cooperation to support and understand financial innovation in each economy.

Malaysia is a vibrant fintech destination. In 2015, Malaysia became the first Asia Pacific nation to regulate for e...

By Kwame Slusher

Wednesday 28 June 2017




The Reserve Bank of New Zealand (RBNZ) underlined their commitment in its Statement of Intent (SOI) for 2017-2020.

“The SOI outlines other key projects, including improving the resilience of the Bank’s operations and developing a plan for the future custody and distribution of currency,” spokesperson for the bank said, in a recently-released...

By Kwame Slusher

Wednesday 28 June 2017



The recent Goldeneye attack is just another reminder of the new normal on the cyber risk landscape.

ABC News reported that the latest worldwide ransomware attack affected two Australian companies: DLA Piper and the Cadbury factory, based in Hobart.

Goldeneye is meant to be part of the same strain as the WannaCry ransomware attack that over ...

By Kwame Slusher

RBNZ Media Release

The Reserve Bank continues to broaden its engagement with a diverse range of stakeholders to provide accountability, and to promote understanding and dialogue, Head of Communications, Mike Hannah, said in a speech released today.

Speaking to the Canterbury branch of the Institute of Directors in Christchurch yesterday evening...

By Kwame Slusher

ASIC Media Release

ASIC has clarified its position on the use of restricted terms relating to the independence of financial advisers after seeking external legal advice on whether phrases such as 'independently owned' are restricted terms under s923A of the Corporations Act (the Act).

Section 923A provides that financial service providers...

By Kwame Slusher

ASIC Media Release

The Australian Securities and Investments Commission (ASIC) and Queensland Police Service (QPS) have collaborated in a joint agency surveillance operation to identify and remove criminal syndicate and outlaw motorcycle gang (OMCG) members from managing corporations or having a registered business name.

The operation foc...

By Kwame Slusher

ACCC Media Release

27 June 2017

The Federal Court has found that Get Qualified Australia Pty Ltd made false or misleading representations and engaged in unconscionable conduct in its supply of services to consumers seeking recognition of their prior learning to gain qualifications, in contravention of the ...

By Kwame Slusher

ASIC Media Release

Westpac Banking Corporation (Westpac) has paid a penalty of $127,250 to comply with an infringement notice (Infringement Notice) given to it by ASIC.

The infringement notice was issued in response to an alleged breach of the ASIC Derivative Transactions (Reporting) Rules 2013 (ASIC Rules) during the period from 2 Octobe...

By Kwame Slusher

The former director of Parklane Assets Pty Ltd (Parklane), Mrs Gela Anne Newitt, has been charged with fraud. Counsel for Mrs Newitt appeared on her behalf on 7 June 2017 in the Melbourne Magistrates' Court.  

Mrs Newitt used Parklane to operate the Mentone Gardens Supportive Care Home (Mentone Gardens) in Mentone, Victoria.

It is alleged ...

By Kwame Slusher



A heavy focus on compliance with regulation can lead to unethical decision-making. 
 
This was the position of Professor Dimity Kingsford Smith from UNSW Law, panellist at the Banking and Finance Oath (BFO) Summit held recently at the Swissostel. 
 
"I don't think we can get rid of regulation,” Kingsford Smith said. “But we can certainly impr...

By Kwame Slusher