Tag Archives: APRA

Financial Services in Focus – Issue 28

Funds and financial products

APRA releases update to its responses to the Royal Commission recommendations

On 7 August, APRA released its updated plans in relation to specific recommendations in the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

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Financial Services in Focus – Issue 26

Funds and financial products

ASIC issues guidance to licensees to protect against share sale fraud

On 17 June, ASIC issued guidance for Australian financial service (AFS) licensees about how they can mitigate the risks to their clients and business of share sale fraud. The guidance is in Information Sheet 237 Protecting against share sale fraud (INFO 237)

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Financial Services in Focus – Issue 22

Funds and financial products

Design and Distribution Obligations and Product Intervention Powers legislation passes Senate

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The Financial Services Royal Commission – we digest Hayne’s Final Report

On 1 February 2019, following a whirlwind 12-month inquiry, Commissioner Hayne delivered his greatly anticipated Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. It was released to the public on 4 February 2019.

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Financial Services in Focus – Issue 18

Funds and financial products

ASIC releases consultation paper on fees and costs disclosure regime

On 8 January, ASIC released a consultation paper on reforms to the fees and costs disclosure requirements for managed investment schemes and superannuation funds.

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Financial Services in Focus – Issue 17

Funds and financial products
ASIC to consult on measures to restrict offers to retail investors of stub-equity in proprietary companies

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APRA issues information security standard

Australian Prudential Regulation Authority (APRA) issued Prudential Standard CPS 234 Information Security (CPS 234) on 7 November 2018. CPS 234 imposes information security requirements on all APRA-regulated entities and will commence on 1 July 2019, providing transition arrangements where information assets are managed by third parties. It is crucial for all APRA-regulated entities to understand the requirements in place for the management of information security.

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Royal Commissioner Kenneth Hayne’s interim report

Royal Commissioner Kenneth Hayne’s interim report contains no specific recommendations, and no draft recommendations, but rather postulates two main questions for further consideration:

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Financial Services in Focus – Issue 11

Funds and financial products

Senate passes crowd-sourced funding legislation for proprietary companies

On 12 September, the Senate passed the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 (Cth), with amendments.

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Financial Services in Focus – Issue 10

Funds and financial products
ASIC updates guidance for trustees of wholesale equity schemes

On 4 September, ASIC released Regulatory Guide 192 Licensing: Wholesale equity schemes following public consultation.

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