Based on Reuters information, CEO Yoni Assia indicated that the company is weighing up its options to launch an IPO in New York or London. He added that a New York listing would mean exposure to a larger pool of investors. In an interview with the Financial Times, as cited by Reuters, Assia said: We…
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The concerns included non-compliance with auditing and assurance standards, independence requirements, registration conditions, or being unfit to remain an SMSF auditor. ASIC took the disciplinary measures in the quarter ending 31 December 2023. Among the actions taken, ASIC disqualified five auditors and imposed additional conditions on two. Two auditors had their registrations cancelled. Notably, of…
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The Australian Securities and Investments Commission (ASIC) signed an agreement with the Registration Authority (RA) governing the Abu Dhabi Global Market (ADGM) to enhance co-operation between the two organizations. The partnership will streamline the registration of companies, enhance the sharing of information and expertise, while also providing secondment opportunities within both jurisdictions. James Shipton, Chair…
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The Australian Securities and Investments Commission (ASIC) today issued a statement banning Mark Joseph Hinsley from working in the financial services industry for a period of three years. This is the second ban issued by the Australian regulator this week. Hinsley was a director at Foster Stockbroking Pty Ltd (FSB) where he headed the investment…
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The Australian Securities and Investments Commission (ASIC) today announced that it has banned Matthew McCrow from working in the financial services industry for five years starting 15 January 2019. McCrow was a director at Jade Capital Partners, an Australian investment company that provided managed discretionary account (MDA) products to its clients, whose license was cancelled…
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The Australian Securities and Investments Commission (ASIC) issued a statement applauding the enactment of the Treasury Laws Amendment (Enhancing Whistleblower Protections) Bill 2018 by Parliament on 19 February 2019. According to the new laws: The definition of a whistleblower now includes former and current employees, contractors and officers as well as their spouses and children.…
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The Australian Securities and Investments Commission (ASIC) has reminded financial advisers, who are currently authorised, to make sure that they are on ASIC’s Financial Advisers Register no later than 31 December 2018, before new professional standards requirements take effect. Professional standards reforms for financial advisers were introduced in March 2017 to raise the education, training…
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The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) and the Australian Securities and Investments Commission (ASIC) have signed a Cooperation Agreement which provides a framework for cooperation to understand financial innovation in each jurisdiction. The Agreement provides a framework for information sharing between the two regulators on financial technology (fintech) and regulatory technology (regtech).…
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The Australian Securities and Investments Commission (ASIC) has approved the Australian Financial Complaints Authority (AFCA) Complaint Resolution Scheme Rules and the Terms of Reference of the AFCA Independent Assessor (IA). ASIC is required to approve material changes to the AFCA scheme under the Corporations Act, 2001. This is a key part of ASIC’s role in…
Read moreThe Australian Securities and Investments Commission (ASIC) announced that it has suspended the Australian financial services (AFS) license of Vesta Living Communities Ltd (Vesta) after concluding that it had not maintained adequate compliance measures to meet its license obligations. ASIC found Vesta had not met the organisational competence and financial resource requirements of its license.…
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