In the media
ASIC extends relief for foreign financial services
providers
ASIC has extended to 30 September 2019 licensing relief for foreign
financial services providers (FFSPs) to allow them
to provide financial services to Australian wholesale clients
without needing to hold an Australian financial services licence
(21 September 2018).
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Financial firms must join AFCA now
ASIC warns all Australian financial services licensees, Australian
credit licensees, authorised credit representatives and
superannuation trustees that they must join the Australian
Financial Complaints Authority (AFCA) now if they
have not already done so (20 September 2018).
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Improving superannuation settings will lead to better
retirement outcomes for women
The Association of Superannuation Funds of Australia
(ASFA) welcomes the Federal Opposition's
announcement of a package of proposed reforms to improve retirement
outcomes for women (19 September 2018).
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Governance Institute: Regaining trust in a post royal
commission world
The victims at the heart of the cases raised at the Hayne royal
commission might consider it an understatement to conclude there is
a need for greater levels of professionalism in the financial
services sector. Indeed, as the results of our recent
Ethics Index show, there is much work to do if the financial
services sector is to regain the trust of its customers (19
September 2018).
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ASIC approves Australian Financial Complaints Authority
rules
The Australian Securities and Investments Commission
(ASIC) has approved the Australian Financial
Complaints Authority (AFCA) Complaint Resolution
Scheme Rules and the Terms of Reference of the AFCA Independent
Assessor (IA) (12 September 2018).
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In practice and courts
APRA: Review of the superannuation prudential
framework
The aim of the review is to ensure the prudential and reporting
standards, and related guidance, have achieved their objectives and
continue to remain fit for purpose. To commence this review, APRA
released the first of a series of consultation papers on aspects of
the prudential framework. APRA invites written submissions on all
consultation papers by 26 September 2018. Copies of the
consultation papers released are available on APRA's
website.
More...
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
