Search Results for: ASIC
ASIC: Evaluating distributed ledger technology
March 20th, 2017
ASIC has today released an information sheet on distributed ledger technology (DLT), also known as blockchain technology. Read Information Sheet 219 Evaluating distributed ledger technology (INFO 219). In the last few years, there has been intense interest in DLT ...
ASIC and ASBFEO join forces to ensure bank lenders meet unfair contract laws
March 9th, 2017
Australian lenders including the country’s big four banks have substantial work to do to eliminate unfair terms from their loan agreements, a joint review of small business standard form contracts undertaken by ASIC and the Australian Small Business and ...
ASIC commences civil penalty proceedings against Australian Bank
March 1st, 2017
ASIC has today commenced civil penalty proceedings in the Federal Court against Westpac Banking Corporation (Westpac) for a number of contraventions of the responsible lending provisions of National Consumer Credit Protection Act 2009 (Cth) (the National Credit Act). ASIC ...
ASIC reports on corporate finance regulation July to December 2016
February 24th, 2017
ASIC has today published its sixth report on the regulation of corporate finance issues in Australia. The report, which covers the period July to December 2016, provides companies and their advisers with insights into ASIC’s regulatory approach in the ...
ASIC released a consultation paper about ASIC Class Order Reporting requirements
February 17th, 2017
ASIC today released a consultation paper proposing to remake ASIC Class Order Reporting requirements under s989B. This is due to expire (‘sunset’) on 1 October 2017. This instrument grants relief to Australian financial services licensees who are ...
ASIC cancels AFS licence of Sovereign MF Ltd
February 15th, 2017
The Australian Securities & Investment Commission (ASIC) has issued an announcement to inform that the Commission has cancelled the Australian Financial Services (AFS) licence of Sovereign MF Ltd (in liquidation) ACN 104 964 555 (Sovereign). Sovereign is the responsible ...
ASIC warns customers about scam emails
January 11th, 2017
The Australian Securities and Investments Commission (ASIC) has issued an announcement to warn its Registry customers to be vigilant of scam emails purporting to be from ASIC. According the warning, ASIC is aware some customers have received emails containing attachments or ...
Bundesbank announced basic rate of interest unchanged at -0.88%
December 30th, 2016
Bundesbank announcement of the basic rate of interest as of 1 January 2017: basic rate of interest unchanged at -0.88% The Deutsche Bundesbank calculates the basic rate of interest pursuant to section 247 (1) of the German Civil Code ...
ASIC charges GAIN Capital employee with dishonest use of his position
December 16th, 2016
Following an ASIC investigation, Mr Shun Yuen Ken Li (also known as Leo Lee), of Roseville Chase, New South Wales has pleaded guilty in the Downing Centre Local Court on two charges of dishonestly using his position as an ...
ASIC releases world-first licensing exemption for fintech businesses
December 16th, 2016
ASIC has today released class waivers to allow eligible financial technology (fintech) businesses to test certain specified services without holding an Australian financial services or credit licence. ASIC Commissioner John Price said, ‘ASIC’s ‘fintech licensing exemption’ is unique. No ...
