Tag:Australian Securities and Investments Commission (ASIC)

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Australia: Not That FAR Away
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Australia: ASIC Issues New Legislative Instrument for Exchange Traded Funds
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Australia: Australian Business Registry Services Engages with Directors to Apply for Identification Numbers
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Australia: Not Done Yet: Australia’s Odyssey Into Regulating Artificial Intelligence (AI)
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Australia: Internal Dispute Resolution (IDR) Reporting Due for Financial Services Licensees
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Australia: Climate-related Financial Disclosure: Exposure Draft Legislation
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Australia: ASIC to Focus on Net Zero Statements and Targets
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Australia: ASIC is Remaking Exchange Traded Funds Class Order Relief
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Australia: ASIC Releases Second Report On Reportable Situations Regime
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Australia: ASIC Extends Transitional Relief For Foreign Financial Service Providers

Australia: Not That FAR Away

By: Claudine Salameh and Tamsyn Sharpe

On 15 March 2024 the Financial Accountability Regime (FAR) came into effect for authorised-deposit taking institutions (ADIs). Application of the FAR will be extended to insurers and registrable superannuation entities from 15 March 2025.

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Australia: ASIC Issues New Legislative Instrument for Exchange Traded Funds

By: Matthew Watts, Lisa Lautier and Dhivya Kalyanakumar

On 15 March 2024 the Australian Securities and Investments Commission (ASIC) issued a new legislative instrument extending existing regulatory relief previously only available to passively managed index tracking exchange traded funds (ETFs) so that it will now also apply to a broader range of ETFs (such as actively managed ETFs) quoted on a financial market operated by the ASX or Cboe.  

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Australia: Australian Business Registry Services Engages with Directors to Apply for Identification Numbers

By: Jim Bulling and Laura McFadzean

The Australian Securities and Investments Commission (ASIC) through the Australian Business Registry Services (ABRS) is actively engaging with directors who have not yet obtained a director identification number (DIN).

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Australia: Not Done Yet: Australia’s Odyssey Into Regulating Artificial Intelligence (AI)

By: Daniel Knight and Jack Clark

On 31 January 2024, ASIC Chair Joe Longo outlined ASIC’s position on Australia’s AI regulatory landscape: while current laws offer some regulation, they fall short in effectively addressing the risks associated with AI.

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Australia: Internal Dispute Resolution (IDR) Reporting Due for Financial Services Licensees

By: Daniel Knight and Laura McFadzean

All Australian financial services licensees with a retail authorisation, Australian credit licensees and certain unlicensed entities and superannuation trustees (eligible entities) are required to report IDR data to ASIC by 29 February 2024 at 11:59 PM.

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Australia: Climate-related Financial Disclosure: Exposure Draft Legislation

By: Lisa Lautier and Rebecca Mangos

The Australian Government has released Treasury Laws Amendment Bill 2024: Climate-related financial disclosure, which is draft legislation confirming mandatory reporting of climate-related financial disclosure requirements.

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Australia: ASIC to Focus on Net Zero Statements and Targets

By: Lisa Lautier and Dhivya Kalyanakumar

On 21-22 November 2023, the Australian Securities & Investments Commission (ASIC) hosted the ASIC Annual Forum with a focus on ‘navigating disruption’. With heightened geopolitical uncertainty and market volatility, ASIC outlined its key focus areas for 2024:

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Australia: ASIC is Remaking Exchange Traded Funds Class Order Relief

By: Matthew Watts and Lisa Lautier

The Australia Securities and Investment Commission (ASIC) have released Consultation Paper 374 proposing to remake Class Order [CO 13/721] Relief to facilitate quotation of exchange traded funds on the AQUA Market (Class Order) which is due to expire on 1 April 2024.

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Australia: ASIC Releases Second Report On Reportable Situations Regime

By: Matthew Watts and Rebecca Mangos

The Australia Securities and Investments Commission (ASIC) has released its second report on information lodged under the reportable situations regime for the period 1 July 2022 to 30 June 2023.

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Australia: ASIC Extends Transitional Relief For Foreign Financial Service Providers

By: Rebecca Mangos and Lisa Lautier

The Australian Investments and Securities Commission (ASIC) announced that it has further extended relief for foreign financial services providers (FFSPs) from the requirement to hold an Australian financial services licence (AFSL) when providing financial services to Australian wholesale clients.

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