Tag: Australian Securities and Investments Commission

April 21, 2017 BY Valentina Kirilova

ASIC signs fintech Cooperation Agreement with OJK to promote innovation in financial services

The Australian Securities and Investments Commission (ASIC) and Indonesia's Otoritas Jasa Keuangan (OJK) have entered a Cooperation Agreement to promote innovation in financial services in their respective markets. The agreement, signed today in Melbourne, establishes a framework for cooperation between OJK and ASIC in the expanding space of innovation in financial services, agreeing to share…

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February 06, 2017 BY Valentina Kirilova

Audit regulators in Australia and in Luxembourg enter into cooperative agreement

The Australian Securities and Investments Commission (ASIC) and the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, have signed a Memorandum of Understanding that sets the stage for cooperation with regard to the oversight of statutory auditors. For the CSSF, this is the fifth cooperative agreement with an audit regulator outside of the European…

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November 02, 2016 BY Valentina Kirilova

ASIC and OSC sign agreement to support innovative businesses

Innovative fintech companies in Australia and Ontario will be able to draw on support from the combined resources of their financial regulators as they seek to operate in the others’ market, under a new agreement. Under the agreement, signed in Toronto this week, the Australian Securities and Investments Commission (ASIC) and the Ontario Securities Commission…

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October 27, 2016 BY Valentina Kirilova

ASIC releases report on the charging of advice fees without providing advice by major financial institutions

The Australian Securities and Investments Commission (ASIC) has released Report 499 Financial advice: Fees for no service. The report provides an update on ASIC's work to address financial institutions' and advisers' systemic failures, over a number of years, to provide ongoing advice services to customers who paid fees to receive those services. The report summarises ASIC's…

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May 31, 2016 BY Mike Fox

ASIC releases its third licensing activity report: 30 applications for retail FX license

Australian Securities and Investments Commission (ASIC) today published its third report on its approach to licence applications. The six month report from July to December 2015 sets out recent regulatory outcomes achieved by ASIC in relation to Australian financial services (AFS) applications, Australian credit licence applications, liquidator registration applications, company auditor and approved SMSF auditor…

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June 09, 2015 BY Mike Fox

ASIC bans promoter of non-existent fund

Australian Securities and Investments Commission (ASIC) has today banned Mr. Paul Duncan, of Carrara, Queensland, from providing financial services for four years after an ASIC investigation found he had engaged in misleading and deceptive conduct. ASIC's concerns related to false and/or misleading representations that appeared on the website of Active Captial Managers Pty Ltd (ACM)…

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