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FinTech Australia’s Member Ecosystem Map

Posted on July 21st, 2017 by Sophie Gerber in Finance IndustryFintechOTC Trade Reporting
Australia’s FinTech industry body FinTech Australia, released its first member ecosystem map last month. The map is aimed at building a greater worldwide understanding of Australia’s FinTech indus ...

ASIC Extends its Fintech Co-Operation in the Asia Pacific

Posted on July 19th, 2017 by Sophie Gerber in Finance IndustryFintech
June 2017 was a busy month for the Australian Securities and Investments Commission (ASIC), seeing the implementation of multiple Fintech cooperation deals in the Asia Pacific region. ASIC continues t ...

It’s Time to Take Action! Client Money Reforms are Around the Corner

Posted on July 17th, 2017 by Sophie Gerber in ASICClient MoneyFinance Industry
The reality of the new Client Money regime for retail derivatives sank in further this week with the release of the ASIC Client Money Consultation Paper. The paper sets out how ASIC intends to manage ...

Experts Weigh In on s923A Breach Penalties

Posted on July 14th, 2017 by Sophie Gerber in ASICBreachesFinance IndustryLicensing
Advisers and licensees could face serious consequences for misuse of restricted terms following ASIC’s s923A crackdown, compliance consultants have warned. In late June, ASIC issued a clarification ...

Exclusive: Industry Reacts to Proposed Client Money Laws in Australia

Posted on July 14th, 2017 by Sophie Gerber in ASICClient MoneyFinance Industry
The official consultation period on new client money laws was started by ASIC earlier this week. It’s been a year of heavy lifting for the retail foreign exchange and CFDs trading industry. The int ...

ASIC Down to Final Batch of Limited AFS Applications

Posted on July 11th, 2017 by Sophie Gerber in AFSLsASICLicensing
The corporate regulator has distributed a raft of draft limited AFS licences as it works on finalising the last of the remaining applications. An ASIC spokesperson confirmed to SMSF Adviser t ...

ASIC Scrutinising SOA Templates, Warns Lawyer.

Posted on July 7th, 2017 by Sophie Gerber in ASICAuthorised RepresentativesFinance Industry
Licensed accountants have been warned that ASIC is closely analysing whether the statement of advice templates and other legal documents they use are suitable for the types of advice services they ...

The Beginning of a New Era in ASIC’s Regulatory Regime

Posted on June 26th, 2017 by Sophie Gerber in ASICCompliance WorkFinancial Services and Credit Industries
The Australian Government passed the Supervisory Cost Recovery Levy Bill 2017 and related bills on 16 June 2017, a regulatory milestone for the Australian Securities and Investments Commission (ASIC) ...

AUSTRAC’s New Release: Insight from Compliance Assessments

Posted on June 21st, 2017 by Sophie Gerber in ACL ComplianceAML/CTFAUSTRAC
AUSTRAC released a report titled Insights from Compliance Assessments (Report) in March 2017 which included insights from the compliance assessments it conducted in 2016. The Report outlines the ar ...

ASIC’s Enforcement Findings of the Financial Services and Credit Industries

Posted on May 30th, 2017 by Sophie Gerber in ASICFinancial Services and Credit Industries
Each year ASIC focuses on a small number of enforcement issues to better regulate the financial services and credit industries. ASIC’s Corporate Plan is the foundation for the enforcement areas ...