Tag: Australia

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AUSTRALIA: ASIC Starts 2023 with Focus on Greenwashing
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AUSTRALIA: ASIC releases update on recent enforcement action in Australia and guidance for target market determinations
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AUSTRALIA: Climate and sustainability-related financial disclosure reforms on the horizon
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AUSTRALIA: ASIC gears up enforcement activity
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Australian Regulatory Update – 28 November 2022

AUSTRALIA: ASIC Starts 2023 with Focus on Greenwashing

By Jim Bulling and Anabelle Weinberg

ASIC has brought in the New Year with a focus on green-washing, issuing infringement notices against two different companies, one a superannuation fund trustee and the second being an energy company. The corporations have paid $13,320 and $39,960 respectively in compliance with the infringement notices, noting that payment of such infringement notices is not an admission of guilty or liability.

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AUSTRALIA: ASIC releases update on recent enforcement action in Australia and guidance for target market determinations

By Jim Bulling and Anabelle Weinberg

1.         ASIC enforcement and regulatory update reveals areas of focus

ASIC has published their enforcement and regulatory update outlining the key actions taken between 1 July and 30 September 2022 (REP 753).

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AUSTRALIA: Climate and sustainability-related financial disclosure reforms on the horizon

By Jim Bulling and Anabelle Weinberg

1. Australian Government consults on climate-related financial disclosure framework

The Australian Government has released a consultation paper seeking feedback on the design and implementation of their commitment to a standardised, internationally-aligned climate-related financial disclosure framework.  The framework proposes a ‘phased’ approach where the increased disclosure obligations apply initially to large, listed entities and financial institutions, and be later expanded to smaller firms. 

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AUSTRALIA: ASIC gears up enforcement activity

By Jim Bulling and Anabelle Weinberg

1. ASIC takes further action on greenwashing

ASIC has issued three infringement notices to investment manager Vanguard Investments Australia Ltd (Vanguard) in further action against alleged greenwashing.

ASIC was concerned that Product Disclosure Statements for the Vanguard International Shares Select Exclusions Index Funds may have misled the public by overstating an investment screen which claimed to prevent investment in companies involved in significant tobacco sales. 

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Australian Regulatory Update – 28 November 2022

By Jim Bulling and Anabelle Weinberg

1. New requirements for Australian Superannuation Funds in relation to unlisted assets

The Australian Prudential Regulation Authority (APRA) has revoked Prudential Standard SPS 530 Investment Governance and issued a new version which will commence on 1 January 2023.

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