What makes for good policy management? It’s not just about publishing and distributing written policies to all employees. In fact, as the Australian Securities and Investments Commission (ASIC) recently highlighted, good policy management is about the implementation and supervisory controls ensuring adherence to those policies.Read More
On 31 March 2023, the Markets Disciplinary Panel (MDP), a peer review and enforcement body set up by the Australian Securities and Investments Commission (ASIC), issued an infringement notice to a Market Participant (the Participant) for alleged contraventions of the ASIC Market Integrity Rules (Securities Markets) 2017 (MIRs). The conduct occurred in September 2021, when […]Read More
All Australian Financial Service Licence (AFSL) and Australia Credit Licence (ACL) holders have certain responsibilities. These obligations are listed under section 912A of the Corporations Act, as enforced by the Australian Securities and Investments Commission (ASIC). Generally speaking, you must: Demonstrate compliance with these obligations. Ensure you have adequate financial, technical and human resources to […]Read More
In October 2021, the Australian Securities and Investments Commission (ASIC) put new product design and distribution obligations (DDOs) into effect. In May 2023, after 18 months of enforcement, ASIC released a report investigating progress in these areas.Read More
As the financial services landscape grows more intricate and new market entrants disrupt long-held conventions, the challenges of compliance become particularly noticeable. Varying interpretations and fast-changing requirements complicate an already-stringent regulatory environment. Australian financial organisations are left scrambling to play by the rules — all without jeopardising the processes that keep them afloat in a […]Read More
Regulatory change management is an ongoing challenge for Australian Financial Service Licence (AFSL) and Australian Credit Licence (ACL) holders. The process is difficult due to numerous financial regulators, strict guidelines and dozens of weekly changes — but there are even more factors to consider.Read More
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Regulatory change management is notoriously difficult for financial service providers — especially in Australia, where regulations are particularly strict and numerous. With at least seven top regulators to watch, including the Australian Securities and Investment Commission (ASIC), AUSTRAC and the Office of the Australian Information Commissioner (OAIC), each releasing dozens of regulatory changes and notices […]Read More
Policy management processes are part of everyday life for many industries, especially financial services. But that doesn’t mean the work is easy. Fast-changing legal, financial and regulatory environments demand rapid reactions — and even a single incident of non-compliance can have severe consequences.Read More