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ARTICLE · 26 MAY 2021

Australian Financial Services Regulatory Update - May 2021

Jones Day
Jones Day
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On 24 February 2021, the Australian Securities and Investments Commission ("ASIC") released an immunity policy for certain contraventions of the Corporations Act 2001.

AustraliaFinance and Banking
John Emmerig
John Emmerig
Shannon Finch
Shannon Finch
Tim L'Estrange
Tim L'Estrange
Daniel Moloney
Daniel Moloney
Holly Sara
Holly Sara
Isaac C. West
Isaac C. West
Lucas Wilk
Lucas Wilk
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This edition of the Update covers:

  1. Recent legal and regulatory developments, including the release of ASIC's immunity policy for market misconduct offences, a FATF consultation on proliferation of financial risk and digital currency, and ASIC and APRA's focus on the management of cyber risk and climate risk;
  2. A recent decision of the Full Court of the Federal Court of Australia upholding an order compelling compliance with a s 33 notice by an authorised representative of an AFS licensee;
  3. The continuing fallout of the Financial Services Royal Commission and the recent cases demonstrating ASIC and APRA's continuing commitment to enforcement action in relation to matters referred by the Commissioner; and

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