WEEKLY BLOG
Mar
19
Australian regulators weekly wrap — Monday, 20 March 2023
This week's blog covers ASIC's evolving approach to DDO, AUSTRAC's newest enforceable undertaking and developments in the banking sector abroad. ...
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Mar
12
Australian regulators weekly wrap — Monday, 13 March 2023
This week's update contains the news we have all been waiting for - FAR has passed! It is hard to concentrate on anything else, but I have also covered whistleblowing reports from ASIC, its action on unlicensed credit activities and Mr. Longo's view...
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Mar
10
Design, distribution and cryptocurrency investment – a sharp position taken by ASIC
ASIC’s Product Intervention Power (PIP) under its Design & Distribution (DDO) regime is still a relatively new tool in their regulatory tool kit. It…...
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Mar
10
Misleading & deceptive conduct and cryptocurrencies – ASIC turns up the heat in uncertain territory
ASIC has commenced civil penalty proceedings in the Federal Court against BPS Financial Pty Ltd (BPS) for allegedly making false, misleading or...
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Mar
10
Cartel Update: First criminal cartel jail sentence handed down by Federal Court of Australia
The Federal Court of Australia has affirmed its position that any cartel conduct, as prohibited by the Competition and Consumer Act 2010 (Cth) (CCA)…...
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Mar
10
The crypto winter and custody – practical advice for shoring up custody arrangements
The digital assets world has been rocked by the liquidity run on FTX the week, the world’s second largest exchange, and the near buyout by Binance…...
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Mar
10
Cryptocurrencies and ‘earning’ products – ASIC makes managed investment scheme claims
Australia – November 23 2022 ASIC has commenced civil penalty proceedings in the Federal Court against fintech company Block Earner alleging it provided unlicensed financial…...
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Mar
10
ASIC is coming for your responsible managers
A key obligation of an AFSL holder is to maintain the competence to provide the financial services covered by its licence.[1] ASIC refers to this…...
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Mar
10
Fire in the house: Interest guaranteed despite extinguishment of debt under deed of company arrangement
The Victorian Court of Appeal has affirmed that whilst a company’s debts can be released to some extent under a DOCA, that section 444J of the…...
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Mar
05
Australian regulators weekly wrap — Monday, 6 March 2023
This week is all about the RBA's CBDC announcement, FAR going through Parliament this March, ASIC's action against Terracom and more! ...
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Feb
25
Australian regulators weekly wrap — Monday, 27 February 2023
Lots happening this week with ASIC's RACQ action, the Senate hearing on crypto and multiple tweaks to ASIC's DDO / PIP power. ...
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Feb
18
Australian regulators weekly wrap — Monday, 20 February 2023
This week's blog covers massive privacy reforms, ASIC's cool new regulatory timetable, and more uses of the DDO power. ...
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Feb
11
Australian regulators weekly wrap — Monday, 13 February 2023
A super interesting week covering: future of financial advice reforms; SEC's action against Kraken regarding 'staking'; the Government's vision for crypto protection in Australian moving forward and more! ...
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Feb
04
Australian regulators weekly wrap — Monday, 6 February 2023
This blog covers: crypto reform in the UK, our crypto token mapping exercise in Australia, FAR fines and ASIC's new restructure. It has been an exciting week! ...
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Jan
29
Australian regulators weekly wrap — Monday, 30 January 2023
Covers federal judicial commission; AFCA case; legislative design; ACMA powers, and UK crypto licensing matters. Plus my Chat GPT thoughts!...
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Jan
21
Australian regulators weekly wrap — Monday, 23 January 2023
This update covers: FAR, Crypto risks, deposit rate investigation, cancellations of AFSLs and Sean Hughes' departure from ASIC....
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Jan
14
Australian regulators weekly wrap — Monday, 16 January 2023
Covering Banking Code, IR Derivatives, FIRB Penalties, Greenwashing and the Financial advisers register....
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Dec
19
Australian Regulators Weekly Wrap – 19 December 2022
Finder (ASIC): ASIC has commenced civil penalty proceedings in the Federal Court against Finder Wallet Pty Ltd, for allegedly providing unlicensed financial services, breaching product disclosure requirements and failing to comply with design and di...
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Dec
13
Australian Regulators Weekly Wrap – 12 December 2022
American express (ASIC): ASIC has commenced proceedings in the Federal Court against Amex, in ASIC’s first civil penalty case alleging breaches of design and distribution obligations. ASIC alleges that:1) the target market determinations issued by...
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Nov
19
Australian Regulators Weekly Wrap – 21 November 2022
Crypto custody (Treasury):Treasury has announced that there will be custody rules introduced for digital assets in 2023. The exclusive in this AFR article (linkhere), provides that Treasury will open consultations to safeguard crypto custody arrangem...
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