All posts tagged "consumer harm"
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25Australia & NZAustralia Proposals to Regulate BNPL Gains Widespread Support
AFCA has received more than 3,300 complaints against BNPL providers since 2018. ASIC supports regulating BNPL under the National Credit Act.
February 17, 2023 -
337Australia & NZASIC Finds Product Governance Shortfalls by Small Credit Lenders
TMDs issued by payday lenders and consumer leasing companies lacked detail in the descriptions of their products and target markets. Review triggers were also set too broadly.
December 15, 2022 -
566Crypto / Digital AssetsMAS to Strengthen Retail Protections from Crypto Harms
MAS managing director Ravi Menon described an approach to digital assets that allows Singapore to be both stringent in its regulation and facilitative of innovation.
August 30, 2022 -
633Australia & NZASIC Sets Out Expectations on Cyber Risk Management
The guidance follows Australia's first Federal Court judgment ruling that an AFS licensee breached its obligations on managing cyber risk.
May 20, 2022 -
342Australia & NZ
ASIC Publishes Final Guidance on Anti Hawking Regime
The guidance emphasises the need for firms to maintain records of consumers giving consent to be sold financial products as a way to demonstrate compliance.
September 24, 2021 -
841Fintech / RegtechIOSCO Publishes Final Guidance on Supervising AI/Machine Learning
IOSCO members are encouraged to consider six measures carefully in the context of their legal and regulatory frameworks.
September 8, 2021 -
372Australia & NZ
ASIC Prioritises Economic Recovery in New Corporate Plan
ASIC's key external priorities for the next four years include the economy, innovation, consumer harm, cyber resilience, and industry readiness for regulatory reforms.
August 27, 2021 -
265Australia & NZ
ASIC Appeals Dismissal of Cigno, BHF Solutions Case
ASIC’s appeal seeks judicial clarification on the operation of key obligations under the National Credit Act and National Credit Code.
July 28, 2021 -
416Australia & NZ
ASIC Proposes New Guidance for Crypto-asset ETPs
In ASIC's view, only bitcoin and ether are likely to satisfy proposed criteria for determining whether a crypto-asset is appropriate as an ETP's underlying asset.
July 2, 2021 -
254Australia & NZ
ASIC Issues Guidance on Ongoing Fee Arrangements
A new information sheet provides guidance on ongoing fee arrangements, fee disclosure statements, and ongoing fee consents.
June 17, 2021
