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. […]
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 [...]
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. […]
