This edition of our ‘FSR GPS’ (Guidelines, Principles and Strategies) series covers proposed laws recently tabled before Parliament to impose a statutory condition (Condition) on RSE licensees to have ‘no other duty to act in the interests of another person’ other than a duty that arises in the course of: acting as an RSE licensee; … Read more

ASIC has published INFO 252, a long-awaited information sheet which addresses conduct risk issues for both sell-side and buy-side firms arising out of the discontinuation of LIBOR. As the transition from LIBOR rates to alternative reference rates (ARRs) enters its final stage (with the end of 2021 assumed to be the deadline by which transition … Read more

This article is a part of our Remediation Round-Up series which explores potential issues for financial services licensees when conducting remediation and ways to optimise the design of remediation programs. Key points ASIC is expected to obtain a joint mandate with APRA to regulate the operation of superannuation funds. Once this mandate is introduced, we … Read more

This article is a part of our Remediation Round-Up series which explores potential issues for financial services licensees when conducting remediation and ways to optimise the design of remediation programs. Introduction Financial advice has been a very significant area for financial services remediation in Australia in recent years. ‘Financial advice remediation’ is a broad term … Read more

This article is a part of our Remediation Round-Up series which explores potential issues for financial services licensees when conducting remediation and ways to optimise the design of remediation programs. Issues to consider When considering breach reporting to regulators, what are your potential obligations to remediate affected clients and how will you involve the regulators … Read more

This article is a part of our Remediation Round-Up series which explores potential issues for financial services licensees when conducting remediation and ways to optimise the design of remediation programs. Issues to consider Does the remediation team have immediate access to advisors who can provide input on each stage of the remediation process, if an … Read more

This article is a part of our Remediation Round-Up series which explores potential issues for financial services licensees when conducting remediation and ways to optimise the design of remediation programs. Issues to consider Clarity and transparency is key when communicating with clients. Licensees should tailor communication strategies to the client’s technical and financial literacy. Settlement … Read more

This article is a part of our Remediation Round-Up series which explores potential issues for financial services licensees when conducting remediation and ways to optimise the design of remediation programs. Issues to consider The selection of a remediation period is a critical decision in the development of a remediation plan, and will depend on a … Read more