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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...

By Kwame Slusher


 
 
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...

By Kwame Slusher

 



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...

By Kwame Slusher

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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By Kwame Slusher




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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By Kwame Slusher

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 ...

By Kwame Slusher

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...

By Kwame Slusher

 
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...

By Kwame Slusher


 
This week Australia’s prudential regulator has indicated that intend to go ahead with the independent certification requirement for related party arrangements when it comes to insurance in superannuation.

However, in letter to the superannuation industry, the Australian Prudential Regulatory Authority (APRA) they indicated that the requiremen...

By Kwame Slusher