From gtlaw.com.au: ASIC emphasises compliance and transparency in financial reporting for FY25-26, with a focus on audit practices and investment portfolios.
The Takeovers Panel addresses shareholder association concerns and delisting applications, while legal guidance on director resignation highlights key principles.… read more
From gtlaw.com.au: A parliamentary inquiry examines wholesale client tests under the Corporations Act 2001, focusing on financial thresholds and their implications for investor protection and market access.… read more
From gtlaw.com.au: The new climate-related disclosure regime mandates that large reporting entities prepare annual sustainability reports alongside financial reports starting from January 2025.
These reports must adhere to specific standards set by the AASB and AUASB, with guidance from ASIC, to enhance transparency on climate-related financial risks.… read more
From asic.gov.au: ASIC’s review of the consumer lease industry revealed customer harm and potential breaches of consumer protection laws, with nearly 25% of leases in arrears despite significant market contraction following recent reforms.… read more
From asic.gov.au: ASIC is suing Snaffle (operated by Walker Stores Pty Ltd) for allegedly inflating prices of household goods and electronics, while applying unlawful interest charges under credit contracts, resulting in interest rates exceeding the legal cap of 48%.… read more
From financialnewswire.com.au: The Stockbrokers and Investment Advisers Association has criticised ASIC for its proposal to publicly name financial services licensees regarding internal dispute resolution and reportable situations data.… read more
From financialnewswire.com.au: The Australian Securities and Investments Commission is appealing to the High Court for clarification on the definition of “financial product,” particularly concerning crypto-assets.… read more
From gtlaw.com.au: ASIC has issued new guidance for buy now pay later providers and updated its processes to include electronic signatures and a digital licence application portal.… read more
From asic.gov.au: ASIC is seeking special leave from the High Court to appeal a Full Federal Court decision which determined that Block Earner’s product, offering fixed yield returns from lending specific crypto-assets, is not classified as a financial product.… read more
From jws.com.au: ASIC’s Regulatory Guide 281 outlines that starting June 10, 2025, low-cost credit contracts (LCCCs) and buy now pay later (BNPL) contracts will be regulated under the National Consumer Credit Protection Act 2009.… read more
From bdo.com.au: ASIC provides guidance on directors’ duties related to sustainability reporting, emphasising the necessity for understanding climate-related risks and establishing risk management systems.
Directors are encouraged to rely on expert advice while maintaining personal judgement and accountability.… read more
From legalvision.com.au: The Federal Court of Australia ruled that Kraken’s “Margin Extension” product qualifies as a credit facility, necessitating compliance with Australian financial regulations, including the issuance of a Target Market Determination.… read more
From www.insurancebusinessmag.com: ASIC warns that poor financial control and misuse of company funds by directors poses significant risks to small creditors, contributing to 36% of company failures in 2023-2024.… read more
From www.claytonutz.com: ASIC)has released Regulatory Guide 280 (RG 280) to provide clarity on mandatory sustainability reporting requirements that commenced on January 1, 2025, for certain entities.… read more