The penalties are the result of six proceedings brought by ASIC in November. Westpac had already agreed to pay the penalties and customer remediation.
April 25, 2022Former director Paul Quill has reportedly agreed to repay Deloitte for over A$3mn of personal purchases claimed as work expenditures.
April 22, 2022Regulated entities looking to launch crypto-asset-related operations should consult their supervisor first. A longer-term prudential framework is being developed.
April 22, 2022ASIC is using its design and distribution powers to ensure CBA customers are provided the right level of disclosures around crypto product risks.
April 15, 2022The consultation seeks feedback on whether schemes of arrangement which relate to changes in corporate control should be regulated by the Takeovers Panel rather than the Court.
April 13, 2022Since the product intervention order took effect in March 2021, ASIC has observed few losses, margin close-outs, and negative balance occurrences affecting retail client.
April 12, 2022APRA will not be introducing new regulatory requirements for FIs or attempting to hinder innovation. Rather, it will be asking them to closely assess and monitor new operational risks.
April 11, 2022On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
April 11, 2022ASX is seeking views on two alternative bases proposed for conducting a scale-back on security purchase plans, and proposes new disclosure requirements for material placements.
April 9, 2022ASIC has charged Helio Lending for falsely representing that it had a credit licence that allowed it to offer cryptocurrency-backed loans.
April 9, 2022