ASIC recently sought feedback on proposals to make it easier for businesses to deliver financial services disclosures electronically while preserving choice for consumers. Here is a link to ASIC’s media release (click here) and the consultation paper (click here).
ASIC recently released consultation papers proposing to remake a number of class orders that are due to expire (‘sunset’) in 2015 and 2016; one of which is the Class Order facilitating offers by foreign companies. Here is a link to ASIC’s media release (click here) and the consultation paper (click here).
ASIC recently released consultation papers proposing to remake a number of class orders that are due to expire (‘sunset’) in 2015 and 2016; one of which is the Class Order on secondary services and general advice. Here is a link to ASIC’s media release (click here) and the consultation paper (click here).
Following a review of fee disclosure practices, ASIC recently released a class order clarifying key fee and cost disclosure requirements for Product Disclosure Statements and periodic statements for superannuation and managed investment products. Here is a link to ASIC media release (click here), the ASIC class order (click here) and draft regulatory guide (click here).
ASIC recently released a class order to facilitate term deposits that are only breakable on 31 days’ notice. Here is a link to ASIC’s media release (click here), the class order (click here) and an explanatory statement (click here).
The Government announced plans to establish a register for financial advisers in October 2014, and ASIC is well advanced with work on an industry-wide public register to be up and running at the end of March. Here is a link to ASIC’s media release (click here) and to ASIC’s dedicated webpage (click here).
APRA is conducting consultation with the superannuation industry on additional superannuation data to be collected under reporting standards and primarily to be used by the ABS. The proposed standards would take effect from 1 January 2016. Here is a link to the consultation package on APRA’s website (click here) and an ABS information Paper (click here).
The Government has released exposure draft legislation to amend the income tax law to provide look through treatment for instalment warrants and instalment receipts. Here is the link to the consultation paper (click here)
The Government has released exposure draft legislation which would amend the income tax law to improve the tax treatment of employee share schemes as part of the Industry Innovation and Competitiveness Agenda. Here is the link to the consultation paper (click here)
The High Court has confirmed that a trustee cannot rely on a its general trustee powers to make an in specie distribution of assets to unit holders in a managed investment scheme without their consent. In Wellington Capital Limited v Australian Securities and Investments Commission [2014] HCA 43, the High Court dismissed an appeal from a decision […]