Author Archives: ETE

ASIC has disqualified Mohamed Aly Ismail Khalaf of Condell Park, NSW, from managing corporations for five years due to his involvement in the failure of three companies. Between 29 July 2013 and 16 September 2019, Mr Khalaf was an officer of three companies that entered liquidation: Qld Protection Security Pty Ltd (ACN 165 047 110); […]

ASIC has today strengthened its scam prevention tools to support consumers with the publication of a new investor alert list. Consumers can use this list to help inform themselves as to whether an entity they are considering investing in could be fraudulent, a scam or unlicensed. ‘Unlicensed and imposter investment opportunities cause serious financial and […]

Greenwashing is simply misleading and deceptive conduct by another name, writes ASIC Deputy Chair Sarah Court FAICD. ASIC is deeply committed to protecting Australians from financial harm, acting on and deterring misconduct, and upholding the integrity of Australia’s financial system. To support this commitment, last year, I announced ASIC’s 2023 enforcement priorities. Following an influx […]

Following the commencement of the Treasury Laws Amendment (2023 Measures No. 3) Act 2023, financial advisers who are both a relevant provider and a registered tax agent now satisfy the definition of a ‘qualified tax relevant provider’ without having to meet the requirements of Division 3 of Part 3 of the Corporations (Relevant Providers—Education and […]

Section 29QC of the Superannuation Industry (Supervision) Act 1993 (SIS Act) requires that information given to the public (e.g. in disclosure documents) be calculated in the same way that the information is reported to the Australian Prudential Regulation Authority (APRA) under an APRA reporting standard. ASIC Class Order [CO 14/541] provides relief from section 29QC […]

ASIC has commenced civil penalty proceedings in the Federal Court alleging Telstra Super failed to comply with internal dispute resolution requirements. This is the first proceeding under this regime, which came into effect on 5 October 2021. The new regime makes certain provisions of ASIC’s Regulatory Guide for Internal Dispute Resolution (RG 271) enforceable, including […]

ASIC has disqualified Paul Kenneth Nimal Hamilton of Coombs ACT, from managing corporations for two years due to his involvement in the failure of five companies. Between December 2019 and August 2021 Mr Hamilton was the director of five companies that entered liquidation: Lifestyle Home Account (ACT) Pty Ltd (ACN 625 959 097) (Lifestyle Homes); […]

At a press conference today, Assistant Treasurer Stephen Jones outlined a new scam website takedown capability implemented by ASIC. The takedown capability removes or limits access to fraudulent and malicious websites on the internet and expands on a three-week trial ASIC conducted in 2022. Since July 2023, ASIC has disrupted scam activity by initiating takedowns […]

Find out about the progress we’re making towards providing practical synthetic data insights for practitioners and policymakers, and how you can get involved. We set up the Synthetic Data Expert Group (SDEG) in March 2023 to further explore the use of synthetic data in financial markets. The group brings together 21 experts from across financial […]

William O’Dwyer, the former managing director of companies in the Ralan Group, has pleaded guilty to six offences contrary to section 192E of the Crimes Act 1900 (NSW) following an ASIC investigation. Between about 17 April 2015 and 6 June 2018, Mr O’Dwyer, by deception, dishonestly obtained for companies in the Ralan Group the ability […]