ASIC is extending for a further 12 months the transitional relief for foreign financial services providers (FFSPs) from the requirement to hold an Australian financial services (AFS) licence when providing financial services to Australian wholesale clients. The extension of the transitional relief to 31 March 2024 is made by ASIC Corporations (Amendment) Instrument 2022/623. The current […]
ASIC has made an interim stop order preventing advertisements containing certain misleading or deceptive statements about PPM Units, a class of interests in RES Investment Fund (Fund). The responsible entity of the Fund is Responsible Entity Services Limited (RES). The order stops RES from advertising or publishing any statement regarding PPM Units that suggests an […]
ASIC has released a range of documents to support the licensing and other requirements for corporate collective investment vehicles (CCIVs). The requirements come into effect on 1 July 2022, when the CCIVs regime commences. Report 728: Response to submissions on CP 360 Corporate collective investment vehicles: Preparing for the commencement of the new regime (REP 728) highlights the key issues […]
ASIC has today announced new financial reporting requirements for Australian financial services (AFS) licensees, following changes to the accounting standards. Under the new reporting requirements, AFS licensees’ financial reports must contain disclosures consistent with the financial reports of other for-profit entities, prepared under standards set by the Australian Accounting Standards Board (AASB). ASIC Commissioner Sean […]
ASIC has extended its product intervention order imposing conditions on the issue and distribution of contracts for difference (CFDs) for a further five years to 23 May 2027. Since 29 March 2021, the product intervention order has strengthened protections by reducing CFD leverage available to retail clients and by targeting product features and sales practices […]
ASIC has extended the existing relief for business introduction services until 1 October 2022. The extended relief is subject to a new requirement that persons who rely on the relief from 1 April 2022 must provide notice to ASIC. From 1 October 2022, the relief will be further amended to: extend the relief for interests […]
ASIC has published an information sheet about discussing financial products and services online. It outlines how the law applies to social media influencers, and the licensees who use them. ASIC Commissioner Cathie Armour said, ‘The way investors access information is changing. It is crucial that influencers who discuss financial products and services online comply with […]
ASIC has released a consultation paper seeking industry feedback on its proposed licensing requirements for corporate collective investment vehicles (CCIVs). The licensing requirements will come into effect on 1 July 2022 when the CCIV regime commences. Consultation Paper 360 Corporate collective investment vehicles: Preparing for the commencement of the new regime (CP 360) contains proposals on a […]
ASIC has today released information for product issuers and market operators on how they can meet their regulatory obligations in relation to crypto-asset exchange traded products (ETPs) and other investment products. The information covers good practices for market operators in how they admit and supervise these products, and good practices for product issuers in how […]
On Thursday 18 November 2021, ASIC released Consultation Paper 351 Superannuation forecasts: Update to superannuation calculators and estimates relief (CP 351) to seek stakeholder feedback on proposed updates to relief and guidance for superannuation forecasting tools. Superannuation calculators and retirement estimates are low-cost forecasting tools that are intended to be a helpful prompt for consumers to review […]