ASIC has recently released a report covering enforcement results for the period 1 July 2016 to 31 December 2016. The report highlights investigations undertaken during this period as well as a high level analysis of the results.
Read moreTesting Fintech Products and Services Without Holding an AFS or Credit Licence
ASIC has issued Regulatory Guide (“RG”) 257 which seeks to assist fintech businesses test products and services before they obtain an Australian Financial Services (“AFS”) Licence or an Australian Credit Licence (“ACL”).
RG 257 is designed to permit fintechs to test their new products and services before they obtain an AFS Licence or ACL
Read moreProposals to consolidate the ASIC Market Integrity Rules
As a result of the growing number of market operators in the Australian financial sector, market market supervision and real-time surveillance was transferred from the Australian Securities Exchange (“ASX”) to ASIC in August 2010. As a result, ASIC drafted specific rules for each Market Operator, which became known as the Market Integrity Rules.
There are Market Integrity Rules for all current Market Operators - including the ASX, ASX24, Chi-X, National Stock Exchange of Australia (“NSXA”), Sydney Stock Exchange and Financial and Energy Exchange. Additional Rules have been drafted to cover competition in market rules and capital requirements.
Read moreRetail Client Status
Interesting article concerning how retail clients may forego regulatory protections if they are instead classified as “wholesale” (ie, sophisticated or professional investor) by a financial services provider.
ASX Market Outage
ASIC's response to the ASX market outage in September 2016.