Advice licensees that use third-party lead generation services are facing increased regulatory scrutiny, particularly where those arrangements may contribute to inappropriate superannuation switching. ASIC has commenced a review of advice businesses that rely on lead generation models as part of its broader focus on consumer outcomes and distribution practices. Lead Generation and Compliance Risk Lead […]
From 31 March 2026, designated business groups will cease. Entities seeking to discharge certain AML/CTF obligations on a group basis must form a reporting group under the amended Anti Money Laundering and Counter Terrorism Financing Act 2006 (Act) and the Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 (Rules). While reporting groups may deliver operational efficiencies, […]
Reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Act) and the Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 (Rules) commence on: 31 March 2026 for current reporting entities; and 1 July 2026 for tranche 2 entities, including legal and accounting professions, real estate professionals and dealers in precious metals and stones. Although the […]
ASIC has suspended the Australian financial services (AFS) licence of MW Planning Pty Ltd until 8 June 2026 after the firm failed to appoint a replacement responsible manager following regulatory action taken against its existing responsible manager. Failure to replace responsible manager ASIC banned MW Planning’s responsible manager, Robert John Tohill, on 25 August 2025. […]
ASIC has released an updated version of Regulatory Guide 181: AFS Licensing – Managing Conflicts of Interest (RG 181), replacing guidance that had remained largely unchanged since 2004. While the underlying statutory obligation has not been amended, the updated guide significantly clarifies how ASIC expects Australian financial services (AFS) licensees to identify and manage conflicts […]
ASIC has issued a consolidated catalogue of the core legal obligations and regulatory guidance that applies to trustees, responsible entities and managers operating private credit funds. The catalogue is designed to drive uplift across a sector that continues to expand in scale, complexity and investor exposure. Its release reflects ASIC’s intensified supervisory posture outlined in […]
The Australian Securities and Investments Commission (ASIC) has issued an interim stop order preventing FXCM from issuing contracts for difference (CFDs) to retail clients due to deficiencies in its target market determination (TMD). Reason for action ASIC took action after identifying that FXCM’s TMD inappropriately included investors with a medium risk appetite within the target […]
ASIC has suspended the Australian financial services (AFS) licence of Focused Financial Advice Pty Ltd (FFA) after the firm failed to replace the key person named on its licence following a change in ownership. Departure of key person and failure to update licence FFA’s appointed key person left the business in 2023. Despite this, FFA […]
The Corporations Amendment (Digital Assets Framework) Bill 2025 (Digital Assets Bill), which establishes a new regulatory framework for businesses that hold or deal with digital assets for customers, has now been introduced into parliament. The Digital Assets Bill introduces two new financial products into the existing definition of ‘financial product’ in the Corporations Act 2001 […]
ASIC has released Report 820: Private credit surveillance of retail and wholesale funds, highlighting good and poor practices observed in the sector. Read our summary of the key findings here: