Author Archives: ETE

Karen Chester, Emma Herd, Kristy Graham, Kate Griffiths and Mark Rigotti speaking during the 2023 ASIC Annual Forum. The drive towards decarbonisation is transforming markets the world over. By latest estimates, around 90% of global GDP is covered by a national net zero target at or around mid-century. Ensuring businesses are delivering on these targets […]

ASIC today announced its enforcement priorities for 2024, indicating its enforcement focus for the coming year and communicating its intent to industry and stakeholders. In 2024, two new priorities have been added in relation to the superannuation industry, including a focus on member services failures and misconduct relating to the erosion of superannuation balances. New […]

Louise Angela Medley of Bondi Beach, NSW has been found guilty and convicted of two counts of dishonestly obtaining financial advantage by deception. Ms Medley was sentenced to an 18 months community corrections order on 13 November 2023, after earlier being found guilty. An ASIC investigation found that between about 16 December 2016 and 13 […]

Today, ASIC and the Reserve Bank of Australia (RBA) (the Regulators) acknowledged ASX’s announcement of a solution design to replace CHESS. The product-based solution and vendor announced by ASX is a foundational step in getting the CHESS replacement program back on track. This follows advice provided by the ASX Cash Equities Clearing and Settlement Advisory […]

ASIC Chair Joe Longo has welcomed the commencement of new Commissioners Simone Constant and Alan Kirkland, who began their five-year terms today. In August the Treasurer announced the appointment of three new Commissioners to ASIC to serve alongside Mr Longo, Deputy Chair Sarah Court and Deputy Chair Karen Chester, noting Ms Chester’s term ends in […]

Providing feedback You are invited to provide feedback on our proposal, including whether the instruments are operating effectively and efficiently and/or whether any amendments are required. Comments should be sent by 8 December 2023 to [email protected]. Additional information You may choose to remain anonymous or use an alias when providing feedback. However, if you do […]

Today ASIC opened its consultation on the Australian Banking Association’s (ABA) proposed changes to its Banking Code of Practice (the Code). The Code contains a set of contractually enforceable standards that customers and small business can expect subscribing banks to uphold. The ABA plans to apply for ASIC approval of the revised Code. This is […]

ASIC Chair Joe Longo and the Australian Financial Security Authority (AFSA) Chief Executive Tim Beresford signed a refreshed Memorandum of Understanding (MoU), following the last update in 2014. The agencies will continue to work together to pursue common interests and demonstrate their commitment to a whole-of-Australian Government approach to protecting and promoting confidence in the […]

ASIC has suspended the Australian financial services (AFS) licence of First City Corporate Advisory Services Pty Limited (First City) for failing to lodge its annual financial statements and audit reports. The suspension, in place until 27 March 2024, provides First City with an opportunity to meet its outstanding compliance obligations. If First City has not […]

ASIC has suspended the Australian financial services (AFS) licence of JB Markets Pty Ltd (JB Markets) until 30 April 2024 for failing to: comply with the financial requirements of its AFS licence; and have adequate resources to provide the financial services covered by the licence and to carry out supervisory arrangements. The licence suspension means […]