Tag Archives: banking and finance

Pandemic Stabilisation and Recovery Fund

George Kennedy, Partner takes a look at the governments Pandemic Stablisation and Recovery Fund.

In brief: The Minister for Finance and Public Expenditure & Reform, Paschal Donohoe TD, announced recently that the Ireland Strategic Investment Fund (ISIF) will make available a new €2 billion fund to support medium and large enterprises in Ireland affected by the COVID-19 crisis.

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Financial Services in Focus – Issue 30

Funds and financial products

Treasury releases draft Design and Distribution Obligations Regulations

On 12 September, Treasury released for public consultation exposure draft regulations to support the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 (‘Act’) and an exposure draft explanatory statement.

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Mortgage set aside by the Supreme Court of Victoria for unconscionable conduct

In brief

A mortgage-backed loan by a non-bank lender was recently set aside by the Supreme Court of Victoria.

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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 25

Funds and financial products

ASIC consults on lifting standards and transparency of complaints handling

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Financial Services in Focus – Issue 24

Financial markets

ASX releases a revised version of Guidance Note 33 Removal of Entities from the ASX Official List

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Financial Services in Focus – Issue 23

Funds and financial products

ASIC survey of marketplace lending providers

On 12 April, ASIC released Report 617 Survey of marketplace lending providers: 2017–18 and an accompanying infographic.

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Financial Services in Focus – Issue 21

Funds and financial products

Further Royal Commission fallout

The fallout from Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry continues with proposals for legislative reform to implement some of the recommendations.

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Financial Services in Focus – Issue 16

Funds and financial products

ASIC extends relief for non-cash payment facilities

On 16 November, ASIC has amended the ASIC Corporations (Non-cash Payment Facilities) Instrument 2016/211 to remove an expiry date that would have seen the instrument ceasing to operate in March 2019.

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Financial Services in Focus – Issue 15

Funds and financial products

Australian Financial Complaints Authority (AFCA) opens for business

On 1 November, AFCA opened for business and started accepting new complaints as a one-stop external dispute resolution (EDR) scheme.

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