Author Archives: ETE

ASIC has obtained interim orders from the Federal Court freezing the assets of the Shield Master Fund (Shield), a registered managed fund whose responsible entity is Keystone Asset Management Ltd (Keystone). ASIC sought the orders to help protect investor funds while an investigation is continuing. Justice O’Callaghan ordered that Keystone is restrained from: removing property […]

Check against delivery I’d like to begin by acknowledging the Traditional Owners of the land on which we meet today, the Dharug and Gundungurra people, and paying my respects to Elders past and present. I am really pleased to be here in this exciting post-lunch slot to discuss ASIC’s priorities and current work in relation […]

The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published a joint Opinion on the assessment of the Sustainable Finance Disclosure Regulation (SFDR). The ESAs call for a coherent sustainable finance framework that caters for both the green transition and enhanced consumer protection, taking into account the lessons learned from the functioning […]

ASIC has appealed the Federal Court’s decision to relieve Block Earner from liability to pay a penalty for contraventions related to unlicensed financial services when it offered its crypto-related Earner product. On 4 June 2024, the Court found Block Earner’s contraventions to be serious. However, the Court relieved Block Earner from liability to pay a […]

We previously placed restrictions on London Court Limited to stop it from conducting regulated activities for either new clients or new investments. We are issuing an update because we have become aware that investors holding Whisky Scotland bonds are being approached by persons who are claiming they are able to assist investors in recovering their […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its Annual Report for 2023. It sets out the key achievements of the authority in the first year of implementing its new 5-year strategy, delivering on the mission of enhancing investor protection and promoting stable and orderly financial markets […]

ASIC has cancelled the Australian financial services (AFS) licence of Sydney-based financial services provider Sug Ou Jeung. The licence cancellation took effect on 3 June 2024. The licence was cancelled after ASIC became aware that Sug Ou Jeung had never used the licence and had not provided financial services under the licence within six months […]

ASIC has issued a class no-action position in response to approaches by industry participants about whether second party opinion (SPO) providers may be providing financial product advice that requires them to hold an Australian financial services (AFS) licence. This no-action position has been issued in relation to offers made only to wholesale clients for the […]

Thank you for the opportunity to appear today. I am joined today by Deputy Chair Sarah Court and Commissioners Kate O’Rourke, Alan Kirkland and Simone Constant. Also present today are Chief Executive Officer, Greg Yanco, our General Counsel, Chris Savundra; our Executive Director of Markets, Calissa Aldridge and our Chief Financial Officer, Peter Dunlop. Last […]

ASIC has cancelled the Australian financial services (AFS) licence of Haywards Audit Pty Ltd (489231). The licence cancellation took effect on 7 June 2024. The licence was cancelled because Haywards Audit Pty Ltd is no longer carrying on a financial services business. Under the Corporations Act, ASIC may cancel an AFS licence held by a […]