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.
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.
A mortgage-backed loan by a non-bank lender was recently set aside by the Supreme Court of Victoria.
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)
ASX releases a revised version of Guidance Note 33 Removal of Entities from the ASX Official List
On 12 April, ASIC released Report 617 Survey of marketplace lending providers: 2017–18 and an accompanying infographic.
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.
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.
On 1 November, AFCA opened for business and started accepting new complaints as a one-stop external dispute resolution (EDR) scheme.