The RG 78 Series: Article 7 of 8 – Breach Reporting: What counts as ‘similar’?
Well, the inconsistency in reporting practices across the industry might just be a similarity for one!
Embrace Transparency: ASIC Chair Addresses: “Greenhushing”
In a recent panel hosted by the Australian Banking Association, ASIC Chair Joe Longo delivered a powerful message on the importance of transparency and disclosure in relation to climate goals.
ASIC sues eToro Australia for selling ‘volatile’ trading products to retail investors
ASIC has commenced legal proceedings against eToro, alleging breaches of design and distribution obligations concerning its contract for difference (CFD) product. These proceedings relate to CFD offered by eToro to retail clients from 5 October 2021 to 29 July 2023. eToro AUS is now operating with a revised target market determination in place for CFDs. […]
ASIC takes action against greenwashing!
ASIC has commenced civil proceedings in the Federal Court against Vanguard Investments Australia for alleged greenwashing.
The RG 78 Series: Article 6 of 8 – Calculating Impacted Clients
As part of their reporting obligations, Licensees are required to report on the number of clients who, at the time of lodging the report…
The RG 78 Series: Article 5 of 8 – Investigation Triggers & Root Cause options
As part of their reporting obligations, Licensees are required to provide information on what the ‘root cause’ of a breach or potential breach was.
The RG 78 Series: Article 4 of 8 – When should I update ASIC about breaches?
Licensees would be well aware of their obligation to inform ASIC of a reportable situation within 30 calendar days…
The RG 78 Series: Article 3 of 8 – Describing Reportable Situations
ASIC observed that a number of challenges with implementing the Reportable Situations Regime were persistent across the industry…
The RG 78 Series: Article 2 of 8 – The ‘Grouping Test’
The first of ASIC’S updates to RG 78 is the introduction of a new ‘grouping test’ which clarifies the circumstances in which licensees…
The RG 78 Series: Article 1 of 8 – Overview of changes to RG 78
ASIC announced that its 2022-23 priorities would focus on improving the operation of the Reportable Situations regime…
