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Eager to Know How Much you Have to Pay for ASIC’s Regulatory Costs?

Posted on June 20th, 2018 by Sophie Gerber in ASICCompliance WorkFinancial Services and Credit Industries
If you have been regulated by Australian Securities and Investments Commission (ASIC) during the 2017-18 financial year, you will be liable for ASIC’s regulatory costs for this financial year in the ...

ASIC’s AFSL and ACL Application Charges Set to Increase on 1 July 2018

Posted on March 16th, 2018 by Sophie Gerber in ACLsAFSLsASICFinancial Services and Credit Industries
From 1 July 2018, ASIC will be able to charge fees for its services which include regulatory costs that are directly attributable to a single, identifiable entity. Below are some examples of the Fe ...

Farewell FOS! The Australian Financial Complaints Authority is Here!

Posted on March 9th, 2018 by Sophie Gerber in Compliance WorkFinancial Services and Credit IndustriesFOS
The Financial Ombudsman Service (“FOS”), the Credit and Investments Ombudsman (“CIO”) and the Superannuation Complaints Tribunal (“SCT”) dispute resolution schemes will be replaced by the ...

In Case You Missed It – Available Online Now – Sophie Gerber Speaks at the Hong Kong iFX Expo

Posted on March 7th, 2018 by Sophie Gerber in Compliance WorkFinance IndustryFinancial Services and Credit Industries
Sophie Grace Compliance and Legal Director, Sophie Gerber, was among four professionals who participated in a panel held on day 2 of the 2018 iFX Expo Asia, which discussed the challenges and opport ...

Brokers Under Increased ASIC Scrutiny

Posted on November 20th, 2017 by Sophie Gerber in ACLsASICFinancial Services and Credit IndustriesLoans
The industry is under higher levels of scrutiny by the Australian Securities & Investments Commission (ASIC), according to one financial services consultancy firm. In a recent blog post, Sophie ...

Why Referencing the Regulator in Marketing Material is Risky Business

Posted on September 25th, 2017 by Sophie Gerber in ASICCompliance WorkFinancial Services and Credit Industries
Entities that operate in the financial services and credit industries will often reference the Australian Securities and Investments Commission ('ASIC') or use the ASIC logo in marketing material in a ...

Q&A: APRA’s Tightening of Residential Mortgage Lending Practices

Posted on September 2nd, 2017 by Sophie Gerber in ACL ComplianceFinancial Services and Credit IndustriesLoans
Introduction Welcome to Kaplan Professional’s Q&A series. To provide an overview of APRA’s tightening of residential mortgage lending practices and the practical implications of the changes f ...

Receiving Credit Card Payments from Clients? New Requirements Coming Soon

Posted on July 27th, 2017 by Sophie Gerber in Client MoneyFinancial Services and Credit IndustriesPayment Surcharges
From 1 September 2017, all businesses will be prohibited from charging excessive payment surcharges for certain payment methods including Visa and MasterCard credit and debit cards, EFTPOS and the Ame ...

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) ...

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 ...