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ASIC Media Release

ASIC has cancelled the Australian financial services (AFS) licence of Financial Stewards Pty Ltd (Financial Stewards) for failing to co-operate with an ASIC surveillance.

ASIC issued two compulsory notices to Financial Stewards as part of a surveillance.  Financial Stewards failed to respond to the Notices or to ASIC's corr...

By the GRC Professional



The RegTech space is evolving quickly. Lucsan, an Australian-based RegTech firm that caters to financial services, was listed recently in the top 100 RegTech firms by FinTech Global. It is just one of three Australian RegTechs to merit a mention in the list, after a panel of experts reviewed 416 RegTech firms worldwide.

This news comes shortly...

By the GRC Professional

ASIC Media Release

ASIC has commenced proceedings in the Federal Court of Australia and obtained interim injunctions against Perth-based Superfunded Pty Ltd (ACN 617 328 588) (Superfunded) and its sole director, Mr Max David Goldenberg, of Currambine and its sole shareholder Mr Mark Travis Goldenberg  of Claremont (the Goldenbergs). The proceeding...

By the GRC Professional



Most jurisdictions covered by the International Organisation of Securities Commission (IOSCO) have started implementing the G20/FSB recommendations.

This is according to the Implementation Report: G20/FSB Recommendations, published by IOSCO last week, that looks at the implementation of post-crisis recommendations aimed at strengthening securi...

By the GRC Professional

Monday 20 November 2017



As the denouement in the BBSW case continues to unravel, perhaps it was the comments of Brock Johnson, former NAB employee, that have proved most chilling.

According to the AFR, when Justice Beach inquired whether Johnson had read the Australian Financial Markets Association (AFMA) rules, he responded, "We had some training but no, I had not r...

By the GRC Professional

ASIC Media Release

ASIC has commenced legal proceedings in the Federal Court of Australia against MG Responsible Entity Limited (MGRE), as trustee and responsible entity for the MG Unit Trust (ASX code: MGC), for failing to disclose to the Australian Securities Exchange (ASX) market sensitive information in a timely manner.

On 29 February 2016,...

By the GRC Professional

ASIC Media Release

Mr Jin Xi Li, 54, of Caloundra, Queensland, appeared in the Maroochydore Magistrates Court today charged with 88 insider trading related offences.

Mr Li was charged under section 1043A of the Corporations Act following an ASIC investigation into trading in Contracts for Difference (CFD) and the ordinary shares of PanAust Limi...

By the GRC Professional

ASIC Media Release

ASIC has updated regulatory guidance to confirm restrictions, that were announced in June 2017, on the use of terminology that implies independence.

ASIC has updated
 Regulatory Guide 175 Licensing: Financial product advisers – conduct and disclosure (RG 175), to include guidance that terms such as 'independently owned', 'non-...

By the GRC Professional

ASIC Media Release

ASIC has accepted an enforceable undertaking (EU) from former Hart Ensole Pty Ltd representative, Dean Hartmann, after it was found that he failed to meet his financial advice obligations when dealing with his clients.

Under the EU, Mr Hartmann has agreed to cease providing financial services for a period of at least five yea...

By the GRC Professional

ASIC Media Release

The former director and the former chief operating officer of a subsidiary of the publicly listed company Hastie Group Pty Limited (in external administration) have both been charged with three counts of conspiracy to falsify accounts.

Mr Joseph Carmec Farrugia, the former Director of Hastie Services Pty Limited (in external ...

By the GRC Professional