While most relevant providers are currently registered, ASIC reminds AFS licensees and relevant providers of the importance of complying with the registration obligation on an ongoing basis. Both AFS licensees and relevant providers should ensure that they understand the circumstances where new registration is required. AFS licensees must register their relevant providers: after they authorise […]
Author Archives: ETE
Panel appointments: Statement of Policy by the FCA
Our Statement of Policy on panel appointments states our policy for appointing members to our statutory panels, in accordance with the Financial Services and Markets Act (FSMA) 2000. Under section 1RA of FSMA 2000, we are required to publish a statement of policy in relation to the appointment of members of our statutory panels that […]
Transition to the revised MiFIR rulebook
ESMA is issuing this communication in light of the entry into force on 28 March 2024 of the changes introduced by the MiFIR review[1]. ESMA received numerous questions from stakeholders on the provisions applicable on the date of entry into force of the revised MiFIR. ESMA acknowledges that public guidance is necessary, notably, on the […]
T+1 feedback report shows mixed impacts of shortening the settlement cycle in the EU
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is today publishing feedback received to its Call for Evidence on shortening the settlement cycle. In the report ESMA summarises the feedback from market participants during the consultation, focused on four areas: Many operational impacts beyond adaptations of post-trade processes are […]
ASIC bans Panacea Capital director from providing financial services
ASIC has permanently banned Brian Jacques Creigh from providing financial services or being involved in a financial service business. Mr Creigh is the director of Panacea Capital Pty Ltd. He operated the Panacea Capital Cryptocurrency Investment Fund (Crypto Fund) between April 2021 and June 2022. ASIC found that Mr Creigh operated the Crypto Fund while […]
Being a director isn’t meant to be easy
Check against delivery Is it impossible for directors to comply with their obligations? A tough question. We’re all well aware of the ever-increasing complexity of the business world, and it’s pretty clear that this complexity carries over into the role of directors and boards – and this continues to put pressure on the traditional division […]
Scam alert: Scammers are using fake warning banners on imposter websites
ASIC sends a warning to consumers after seeing an increase in the number of imposter scam websites with digital warning banners pretending to be associated with a legitimate Australian company, often an Australian Financial Services Licensee. These fake warning banners usually contain a phone number which consumers are encouraged to call to check that they […]
FCA asks Financial Advisers to review their processes in retirement income support
The Financial Conduct Authority (FCA) has today written to the Chief Executives of financial advice firms asking them to review their processes when providing retirement income advice. The letter comes following the FCA’s thematic review of retirement income advice which examined how firms were providing advice. The review identified examples of good practice in the […]
Crypto and digital assets: policy, regulation and innovation
Check against delivery Good afternoon, everyone. Thank you for joining me – and thank you to Blockchain APAC for the invitation to speak today. I would like to begin by acknowledging the traditional owners and custodians of the land on which we meet today – the Gadigal people of the Eora nation. I pay my […]
Holista Colltech to pay $1.8 million penalty for breaching continuous disclosure obligations over the sale of its COVID product
The Federal Court has ordered Holista Colltech Ltd pay a penalty of $1.8 million for breaching its continuous disclosure obligations and making misleading representations regarding the sales of its sanitiser product, Natshield. On 9 April 2020, Holista announced to the ASX that Health Therapies LLC placed additional orders for 415,000 bottles of NatShield, said to […]