The importance of maintaining compliance and integrity standards in all business communications
Australian financial firms are reminded by ASIC of the importance of maintaining compliance and integrity standards in all business communications.
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Meeting your obligations: The importance of AR/CAR supervision and monitoring
A financial firm’s regulatory compliance responsibilities differ depending on the services it provides. However, one constant for every Australian Financial Service License (AFSL) holder is the requirement to meet the general obligations under Section 912A(1) of the Corporations Act 2001.
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Compliance made simple: Cutting red tape, not corners
Compliance might sound complicated, but it doesn’t have to be. For many small licensees in the financial services sector, meeting regulatory requirements is a big concern. Often, these businesses see compliance as an expensive overhead and think they need to have long and detailed compliance policies like larger companies do. However, these fancy frameworks can […]
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Preparing for the unknown: Navigating potential changes to Retail/Wholesale client classification
The world of financial services is rarely static. Changes may be thrust upon us whether we want them or not — and that can be both exciting and daunting. The challenge is to be prepared without wasting time, particularly on shifts that may never come to fruition, and to avoid spending too much money upfront. […]
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Infringement Notice MDP06/23: Key compliance takeaways from the Markets Disciplinary Panel and ASIC
On 23 October 2023, the Markets Disciplinary Panel (MDP) and the Australian Securities and Investments Commission (ASIC) published an important update. Infringement Notice MDP06/23 addresses alleged contraventions of the ASIC Market Integrity Rules (Securities Markets) 2017 (MIRs or Rules) by a particular market participant that operated a non-public crossing system (dark pool) from 1 April […]
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Infringement Notice MDP05/23: Key compliance takeaways from the Markets Disciplinary Panel and ASIC
On 20 September 2023, the Australian Securities and Investments Commission (ASIC) issued Infringement Notice MDP05/23 to a particular market participant for alleged contraventions under Part 7.2A.04 of the Corporations Regulations 2001. The notice addressed concerns about a client’s trading behaviour. Activity considered suspicious occurred during the Closing Single Price Auction (CSPA) between March and November […]
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An inside look at RegsWeb
To ensure good compliance, your policies need to be three things: up-to-date, ready-to-use and easily accessible. RegsWeb is a MIntegrity tech solution that helps you stay on top of all this and more, assisting firms in all the elements of policy management.
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Dirty money: Your anti-money laundering and counter-terrorism financing obligations
As an Australian Financial Services License (AFSL) holder, you have certain obligations to help prevent financial crime — particularly when it comes to anti-money laundering (AML) and counter-terrorism financing (CTF). From cryptocurrency and social media scams to huge penalties and liabilities, this is one issue you can’t afford to overlook.
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ASIC’s 2023 Enforcement Priorities: Misconduct in crypto assets
Every year, the Australian Securities and Investments Commission (ASIC) announces its Enforcement Priorities — areas of focus that will guide its efforts and help financial firms know where to make improvements. For 2023, ASIC’s Enforcement Priorities include something that may feel novel: “Misconduct involving high-risk products including crypto assets.”
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