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Thursday 3 May 2018




Financial Review

The AFR reported that the Australian Tax Office (ATO) has contacted 106 private Australian clients of Credit Suisse earlier this week in connection to suspicious transactions amounting to $900 million, with the largest bank transfer amounting to $24 million.

Minister Kelly O’Dwyer said that the Australians clients are dee...

By Kwame Slusher

Thursday 3 May 2018




Financial Review

The Australian Prudential Regulatory Authority (APRA) has called for banks not to approach the new accountability regime as ‘just’ a compliance exercise.

APRA Chairman, Wayne Byres, said banks have better chance of building trust if that trust goes beyond the ‘BEAR Necessities’.

He added that, while the industry might ...

By Kwame Slusher

Wednesday 2 May 2018



Regulation

Since the announcement of Helen Coonan as independent chair of the new external dispute resolution body, the Australian Financial Complaints Authority (AFCA), four new appointments have been made.

“I am confident each board member will make a valuable contribution to guide the new authority to ensure it delivers on its important ...

By Kwame Slusher

Wednesday 2 May 2018



Regulation 


The Australian Securities and Investments Commission (ASIC) is finally focussing on the Initial Coin Offering space.


This focus connects directly to ASIC’s receipt of delegated powers from the Australian Competition and Consumer Commission (ACCC) to take action on crypto-assets under consumer law.

The delegation enables ASIC...

By Kwame Slusher



Helping financial service providers keep up with changes in the regulatory landscape 

Introduction

With the Royal Commission taking place, the financial services industry is set for some major changes in the areas of consumer powers, the external complaints body, executive liabilities and reporting obligations.

GRC Professional took the ...

By Kwame Slusher




Helping financial service providers keep up with changes in the regulatory landscape 


An Interview with Pip Bell from PMC Legal continued. Click here to go to part I of this interview.
 

 
One of the things mentioned in your presentation in March is that, despite the fact ASIC had ‘back-flipped’ ASIC Regulatory Guide (RG 97), they were st...

By Kwame Slusher