Need help with policy management? Start here
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.
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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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A deep dive into the Market Disciplinary Panel outcome related to buy-backs
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 […]
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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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Interview: Are you ready for annual compliance reviews?
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 […]
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SIAA accredited CPD webinars – Market Integrity Rules
Market Integrity Rules Thursday 10 August from 1.00pm to 2.00pm AET Hefty penalties issued to market participants seem to be on the increase and it is incumbent upon participants to ensure they comply with the rules. Supported with examples, Amanda Mark and Andrew Tait from MIntegrity will discuss pre and post trade transparency; dealing in […]
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ASIC Market Integrity Update: What you need to know
In May 2023, the Australian Securities and Investments Commission (ASIC) released Issue 148 of its Market Integrity Update. The publication includes important information for market participants, including guidance for assessing cyber capabilities, reports on criminal sentences throughout the industry and — perhaps most importantly — a look at the updated market integrity rules penalty regime.
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Australian financial sector: Navigating regulatory compliance for cyber resilience
Although cybersecurity has long been an integral part of the Australian financial sector, the idea of ‘cyber resilience’ is newer and more complicated. Instead of focusing on the tools or solutions required to protect an organisation, cyber resilience goes a step further to encompass frameworks, philosophies and applicable responsibilities.
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ASIC design and distribution obligations: Ensuring your TMD is compliant
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.
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