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The consultation period for Treasury's Consultation Paper on its review of the regulatory framework for managed investment schemes closed on 29 September 2023.

As a part of a deal with the smaller party Senators, the Government has detailed several changes that it plans to make.

The reform package is aimed at bolstering ASIC by introducing greater analytics, surveillance and enforcement powers. .

This issue links to media releases, reports and cases relating to superannuation, funds management & financial services.

Codes are used when a gold or silver spot trade has been entered into on an FX market.

The definition of "large proprietary company" has been amended by doubling the revenue, assets and employee thresholds.

ASIC alleged that Mercer made false claims about the sustainability status of its superannuation investment options.

The case confirms principles by which a Court will grant leave to proceed with a claim against a company in liquidation.

When does a high default interest rate cross the line from legitimate compensation to an unenforceable penalty? A recent NSW Supreme Court case examines the principles governing default interest provisions in loan agreements, revealing the critical factors lenders must consider when structuring their interest rate terms. The decision provides essential guidance on what evidence lenders need to justify material increases in default rates and how courts will assess whether such provisions constitute genuine p

The retiree received a pension from his superannuation fund, but wished to supplement it with a regular income stream.

ASIC is set to increase the net tangible assets requirements for responsible entities of registered managed investment schemes, IDPS operators, and corporate directors of retail CCIVs, with changes taking effect from 1 July 2027. The updated thresholds will reflect inflation adjustments since 2013 and will be indexed annually going forward. Entities impacted by these regulatory changes will need to ensure compliance with the new minimum financial requirements before the implementation date.

Major banks in Australia will be required to give accredited third parties access to data they hold on customers at those customers' request from July 2019 under a new 'open banking' system being introduced in the country.

This part will cover the legal position in relation to promotional materials and misleading and deceptive conduct.

AFSL holders have an obligation to report to ASIC if they become aware of any changes of control in their AFSL entity.

This is the second and final blog which considers the changes, and current trends in licence applications and variations.

SMSF trustees should ensure that all expenses are the same as if there had been a dealing on an arm's length basis.

Since the breach reporting regime commenced on 1 October 2021, ASIC has been monitoring its effective implementation.