EXECUTIVE SUMMARY On 29 July 2015 ASIC announced that it will now use its power to recover all related expenses and costs of its investigations. Generally ASIC has paid the expenses of the investigations it conducts. However under section 91 of the Australian...
CAPABILITY REVIEW OF THE AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION EXECUTIVE SUMMARY: The Hon Josh Frydenberg MP Assistant Treasurer has announced that the Government is commissioning a review to consider the capabilities of the Australian Securities and...
Group Purchasing Bodies Update EXECUTIVE SUMMARY ASIC Class Order 08/1 Group Purchasing Bodies (GPBs) has yet again been amended to extend the transition period for the breach reporting requirements in relation to the Class Order relief. The above is aimed to allow...
A statutory policy comes into effect by reason of an insurer’s failure to give a renewal notice under section 58(2) of the ICA at least 14 days prior to expiry. This case confirms that the statutory policy will only continue for the period of the expiring policy...
Significant Financial Ombudsman Changes Come into Force from 1 July 2015 Financial service providers should be aware that significant administrative changes regarding the Financial Ombudsman Service will come into effect from 1 July 2015. ADMINISTRATIVE CHANGES:...
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