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
From asic.gov.au: ASIC reminds small business directors of their legal obligations to manage company money and assets appropriately, noting that misuse can harm creditors and lead to company failure.… read more
From asic.gov.au: ASIC has imposed additional conditions on Macquarie Bank Limited’s financial services licence due to multiple significant compliance failures in its futures dealing and OTC derivatives trade reporting, some of which were undetected for years.… read more
From gtlaw.com.au: ASIC has disqualified a NSW director for five years due to involvement in failed companies and improper actions, emphasizing the need for compliance with tax and solvency laws.… read more
From gtlaw.com.au: The Federal Court clarified crypto regulation by ruling that Web3 Ventures Pty Ltd’s Earner product is not a financial product, dismissing ASIC’s appeal.… read more
From gtlaw.com.au: ASIC issued penalties for misleading claims and misconduct, while the courts intervened in boardroom disputes and misleading advertising cases, emphasizing accurate practices and corporate security.… read more
From asic.gov.au: DOD Bookkeeping Pty Ltd, formerly known as Equiti Financial Services Pty Ltd, has been penalized $11,030,000 by the Federal Court for breaching conflicted remuneration rules and providing inadequate “cookie cutter” advice to clients regarding self-managed super funds.… read more
From www.ifa.com.au: ASIC’s recent proposal to publish dashboards with reportable situations and internal dispute resolution data may lead to under-reporting by Australian Financial Services Licence (AFSL) holders, according to industry experts.… read more
From gtlaw.com.au: ASIC is taking steps to increase transparency and user experience through new dashboards for data and a digital portal launch, while addressing scams and regulatory compliance issues.… read more
From www.khq.com.au: ASIC has urged superannuation trustees to enhance their anti-scam and anti-fraud measures following a review that revealed weak practices in addressing scams that impact members’ accounts.… read more
From allens.com.au: ASIC’s RG 280 outlines the CRFD Regime, detailing sustainability reporting requirements and directors’ responsibilities under the Corporations Act 2001.
It emphasizes record-keeping, the use of forward-looking statements, and the importance of scenario analysis and Scope 3 emissions reporting.… read more
From piperalderman.com.au: The Full Federal Court in Australia overturned a prior ruling, determining that Block Earner’s fixed-yield ‘Earner’ product does not qualify as a “financial product” under the Corporations Act, and thus does not require an Australian Financial Services Licence.… read more
From hallandwilcox.com.au: On April 22, 2025, the Full Federal Court ruled that Web3 Ventures Pty Ltd (Block Earner) did not breach financial services laws, overturning earlier decisions and clarifying that fixed interest crypto lending products may not automatically be classified as financial products.… read more
From www.accountantsdaily.com.au: The ATO has identified around 800 SMSF auditors potentially conducting in-house audits, which are not permitted unless specific independence conditions are met.
Recent reviews involved 30 auditors, leading to 14 referrals to ASIC, six voluntary deregistrations, eight educational opportunities, and only two compliant auditors.… read more