On 22 January 2018, the Royal Commission announced: It will hold an initial public hearing – At this hearing the Commissioner and Senior Counsel Assisting will make short opening statements. No witnesses will be called. It will occur in Melbourne at 10am on...
The following paper focusses on the changes as they apply to general and life insurance and discretionary mutual products only and is current as at 16/1/18 SUMMARY OF THE NEW OBLIGATIONS What is changing – The Corporations Act being amended to: include the following...
The NSW Revenue Commissioner has issued Practice Note No. CPN 001 General Insurance – Small Business Exemption – Small Business Declaration which provides guidance on: the way a small business declaration can be made for the purposes of obtaining an exemption from...
17-421MR ASIC updates guidance on conflicted remuneration ASIC has updated Regulatory Guide 246 (RG 246), now titled Conflicted and other banned remuneration. The conflicted and other banned remuneration provisions were introduced as part of the Future of...
17-422MR ASIC releases new example Statement of Advice for life insurance ASIC has released its new example SoA for life insurance as part of updates to Regulatory Guide 90 Example Statement of Advice: Scaled advice for a new client (RG 90) and the Government’s...
EXECUTIVE SUMMARY The ASIC Enforcement Review has released Position and Consultation Paper 8 – ASIC’s Directions Powers. This is considering reform to the existing financial services and credit licensing regimes by giving ASIC the power to direct financial...
Recent Comments