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Not enough Compensation & Accountability? Choice Petition

Friday 1 October 2021





 
This month will see six  reforms based on the royal commission recommendations come into action. 

However, this week also saw consumer activities Choice calling for signatories to petition for the Treasurer to do more and to move more quickly with the Royal Commission reforms.   

Choice said, “Last year, the government promised to pa...

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List: Some Articles of Interest

Friday 1 October 2021






 

 


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Short List of Penalties 27 September -1 October

Friday 1 October 2021


 
 
Pure Strategy has lost its financial licence for failing to comply with general obligations.  Former financial adviser Frederick Steven Ackerman has been banned from for four years because they failed to act in the best interest in the clients between 2019 and 2021. 


The Dairy Farmers Milk Co-operative has paid $11 100 for failing to c...

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From the Archive: Do you have a handle on your financial advertising?

Friday 1 October 2021

 



Financial advertisements are an area that the Australian Securities and Investment Commission (ASIC) has its eye on. 

Earlier this year, ASIC commenced proceedings against Allianz Australia and AWP Australia for misleading behaviour around the sale of travel insurance. Similarly, Colonial First State found itself in the regulator...

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From the Archives: Are you GDPR compliant?

Thursday 30 September 2021





WhatsApp is facing the second highest GDPR fine. 

2021 has been bug year for the General Data Protection Right (GDPR) fines, with the Amazon being slapped with a $ 1.1 billion (746 million euros) and this week Facebook’s WhatsApp was slapped with the second highest fine of almost $ 400 million. 

On June 2018, the Office of the Australia...

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Podcast: Interrogating the Three Lines

Monday 27 September 2021




GRC Institute Director Annette Donselaar talks about recent work that done in looking at establishing or re-establishing a definition in terms for the three lines model used in GRC.

GRC2021 Conference 



Related Podcasts 

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Podcast: The Future of Privacy Compliance?

Monday 27 September 2021




Gadens Partner Dudley Kneller talks about the recent fine meted out to WhatsApp by the Irish regulator for GDPR breaches. Are there any implications for Australian businesses?



Relevant Links
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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 ...

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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...

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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...

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