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Towards the end of 2004 the Ministerial Council on Consumer Affairs (CCA) published a discussion paper proposing a uniform national regulatory scheme for finance and mortgage brokers in Australia. This update summarizes the paper's recommendations.

ASIC has reaffirmed its "technology neutral" approach to financial services regulation in this new consultation paper.

All licensees who authorise representatives should consider their current monitoring practices and what can be improved.

If at all possible, a Creditor's Statutory Demand should be served by hand at the registered office of the company.

This newsletter includes links to recent documents relating to superannuation, funds management & financial services.

Areas outside of cash and equities are also worth looking into. In some instances, investors look to annuity products.

Australian regulators are yet to publish any guidance on the potential phasing out of LIBOR, or the possible impacts.

By removing the grandfathered exemptions, the full effect of FOFA laws applies and conflicted remuneration is banned.

The suggestion that gatekeeper rules should apply widely to participants in the financial markets is a problematic idea.

Seek advice in understanding and complying with your legal obligations if you are required to give evidence to the Commission. .

The Unique Product Identifier (UPI) serves as a critical component of common data elements under EMIR, UK EMIR, ASIC, and MAS regulations, designed to identify OTC derivative products in transaction reporting. This article explores how UPIs work alongside Legal Entity Identifiers (LEIs) and examines the role of ANNA-DSB as the centralized service provider managing the UPI Reference Data Library. Understanding the methods for obtaining and creating UPIs is essential for firms navigating derivative transactio

Australian Financial Services Licensees & Credit Licensees will be individually identified on ASIC's dashboard as well as their complaint statistics.

The Unique Product Identifier (UPI) serves as a critical code for OTC derivatives reported to trade repositories, now mandatory across EMIR, ASIC, and MAS regulations. Understanding how to search and generate UPIs through ANNA DSB requires specific product attributes and data points that vary by asset class. TRAction provides comprehensive UPI retrieval services, navigating the complex and evolving process of obtaining these essential identifiers for regulatory compliance.

Disclosure documents are inadequate to protect persons against products which do not provide value to the customer.

Re Blockchain Tech Pty Ltd [2024] VSC 690.

The Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission)

After months of speculation, the Australian Government has announced that it will establish a Royal Commission into the alleged misconduct of Australia's banks, superannuation...