151-160 of 189 results
Your guide to the 'Your Future, Your Super' package reforms
Consultation is now open on the Government's 'Your Future, Your Super' package. As foreshadowed on Budget night, the package seeks to make three key changes to the current superannuation regulatory regime. ...
A key landmark in IBOR transition
The long-awaited ISDA IBOR Fallbacks Supplement and Protocol will be going live today with the endorsement of ASIC, the RBA and APRA. They implement new benchmark fallbacks for both future and existing derivative contracts, facilitating the efficient transition from LIBOR and other IBORs in anticipation of their discontinuation. If you have a derivatives portfolio, the Protocol allows quick and easy adoption of the new fallbacks through a one-off adherence. That said, it may not be sufficient to cover all scenarios. ...
Linklaters: Key finance insights
The pandemic has shone blinding spotlights on existing areas of concern within competition law and accelerated attempts by policy makers to find solutions. ...
Superannuation trustees and 'efficiently, honestly and fairly'
The Federal Court has made declarations that two superannuation fund trustees contravened ss912A(1)(a) (efficient, honest and fair obligation) and 1041H (misleading or deceptive conduct) of the Corporations Act, and s12DA (misleading or deceptive conduct) of the ASIC Act. ...
'Winding back' responsible lending obligations
The Government announced a simplification to Australia's consumer credit regulatory regime, which has been widely reported as a 'wind back' or 'axing' of the responsible lending obligations (RLOs) under the National Consumer Credit Protection Act 2009 (Cth) (Credit Act). Learn more from our experts. ...
Act fast, act well: Federal Court decision reinforces the importance of robust compliance programs for banks and other financial services licensees
Chief Justice Allsop of the Federal Court recently imposed on a bank, by consent of ASIC and the bank, civil penalties totalling $10 million for unconscionable conduct in carrying out an inadequate customer remediation process. It highlights the importance of banks and other financial services licensees having in place robust compliance programs and taking prompt and comprehensive action where possible non-compliance is identified. ...
ASIC's Corporate Plan 2020-2024
ASIC's Corporate Plan sets out its strategic priorities and actions for the next four years, especially its approach to its supervisory, surveillance and enforcement functions, and how each of those may have been impacted by the COVID-19 pandemic. ...
ASIC issues hardship withdrawal relief to responsible entities
In response to the COVID-19 pandemic, ASIC has provided relief reminiscent of the GFC to allow hardship withdrawals from frozen funds. The COVID-19 version of hardship-relief goes further than its GFC predecessor in many respects. We provide an overview of the issue. ...
Removal of exceptions to anti-hawking prohibition
In response to Royal Commission recommendations, amendments to remove exceptions to the existing hawking prohibition have been released for consultation. We analyse the changes, their effects and challenges. ...
The when and what of the new breach reporting regime
All signs point to the final tranche of the Hayne Royal Commission exposure draft Bills being introduced before the end of the year, and their focuses will include something that is a favourite topic here at Unravelled, and is of considerable interest to our clients – breach reporting. We explain the new regime's timing and effects. ...