31-40 of 589 results
ASIC continues to prioritise compliance with financial hardship obligations
Lenders need to respond effectively to hardship notices. ASIC reviewed ten large home loan lenders to understand how they are supporting customers experiencing financial hardship. ...
ASIC targets superannuation trustees on financial advice fees
On 9 May 2024, ASIC released its report, REP 781 Review of superannuation trustee practices protecting members from harmful advice charges, outlining findings from its review of progress by superannuation trustees in addressing risks of member harm from poor financial advice and inappropriate advice ...
Federal Court and ASIC shine spotlight on supervisory and risk management requirements for CAR arrangements
In its recent decision in Australian Securities and Investments Commission v Lanterne Fund Services Pty Limited [2024] FCA 353, the Federal Court highlighted the risk of breach of the general obligations of Australian financial services (AFS) licensees under the Corporations Act 2001 (Cth) (the Act) ...
It's finally here – BNPL to be incorporated into the existing consumer credit regulatory framework
In this Insight, we explain key elements of the Treasury Laws Amendment Bill 2024: Buy now, pay later (the Draft Bill) and canvass some of the issues that BNPL providers will need to consider. ...
Another year, another FFSP update: what is the status of the FFSP reforms?
In this Insight, we'll bring you up to speed on the latest updates to the FFSP regime, preparing you for what's ahead. ...
Payments regulation reform update: the Government consults on the regulation of payment service providers
The Treasury recently published a further consultation paper in connection with its proposal to introduce a new licensing framework for payments-related activities. It refines and clarifies the proposals in the previous consultation paper published in June 2023. ...
Allens advises Pacific Equity Partners on FirstCape investment
The proposed transaction sees PEP acquire a 35% stake in FirstCape, with NAB and Jarden Wealth retaining shareholdings of 45% and 20% respectively. Allens advised on all Australian law aspects of t ...
The Federal Government issues its final response to the Quality of Advice review
The Federal Government has provided its final response to the Quality of Advice review, as part of its 'Delivering Better Financial Outcomes' package of reforms. ...
Treasury consults on the retirement phase of superannuation
The government has released a discussion paper which seeks industry and community views on how the superannuation system can best provide the security and income Australians need in retirement. ...
Are data breaches a money laundering and terrorism financing risk?
The Australian Transaction Reports and Analysis Centre has published new guidance recommending that reporting entities assess the potential impact of data breaches on the money laundering and terrorism financing risks they face. In this Insight, we explain the new guidance and what it means. ...