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Thursday 21 September 2017

ACCC Media Release

The Australian Competition and Consumer Commission has lodged a Notice of Appeal from the Federal Court’s decision on 30 August 2017 dismissing the ACCC’s proceedings against Medibank Private Limited (Medibank).

The ACCC had alleged that Medibank made false, misleading or deceptive representat...

By Kwame Slusher

ASIC Media Release

Mr Benjamin Amzalak, 46, of Bondi in New South Wales, has appeared by his counsel before the Downing Centre Local Court today on 10 charges of market manipulation brought by ASIC.

The charges follow an ASIC investigation into trading in the shares of the Australian Securities Exchange listed company Precious Metal Resources L...

By Kwame Slusher

Tuesday 19 September 2017

Comment 



Recently, Peter Nash spoke to
The Australian about how technology was changing the landscape. He argued that due to all the data floating around, businesses can no longer hide behind the traditional concepts of confidentiality and privacy.

Go to any conference, breakfast or workshop, and the minute the question of privacy comes up,...

By Kwame Slusher

Tuesday 19 September 2017

News


The inquiry by the Australian Prudential Regulation Authority (APRA) is an opportunity for the Commonwealth Bank of Australia to demonstrate that it takes the Australian Transaction Reports and Analysis Centre (AUSTRAC) investigation seriously.

“Where action is not deemed sufficient, the Inquiry will make clear recommendations for the CB...

By Kwame Slusher

Tuesday 19 September 2017

Looking at compliance and regulation differently.

  


RegTech can be good for compliance, but RegTech itself can bring a paradigm shift to meeting regulatory obligations.

At the ASIC RegTech Showcase, Australian Securities and Investments Commission (ASIC) Chairman, Greg Medcraft, said there needs to be both a new approach to compliance and, ...

By Kwame Slusher

ACCC Media Release

Car manufacturers need to step up to meet their consumer guarantee obligations under the Australian Consumer Law (ACL) and stop putting the squeeze on dealers through dealer agreements, policies and procedures, ACCC Chairman Rod Sims told the 2017 Australian Automotive Dealer Association National Dealer Convention in Sydney toda...

By Kwame Slusher


ASIC has remade two class orders relating to mortgage offset accounts and factoring arrangements, which were due to expire (‘sunset’) on 1 October 2017. Two new instruments have been made to continue the relief provided by these class orders:
  • ASIC Corporations (Mortgage Offset Accounts) Instrument 2017/795, replacing Class Order [CO 03/1048...

By Kwame Slusher


The Australian Securities and Investments Commission has today launched its data strategy for 2017-20. The strategy, which outlines how ASIC will capture, share and use data, will transition ASIC into a more data-driven and intelligence-led organisation.

ASIC's data strategy outlines a number of data initiatives that have been completed or will ...

By Kwame Slusher

ASIC Media Release

Mr Christopher Robert Con Foo, of Donvale, Victoria has been convicted in the Ringwood Magistrates Court after pleading guilty to one charge of dishonestly using his position as a car finance manager with the intention of personal gain.

Mr Con Foo was convicted, fined $2500 and ordered to pay costs. 

Mr Con Foo was employe...

By Kwame Slusher

ASIC Media Release

Mr Michael Davie, of Keilor East, Victoria, has appeared in the Melbourne Magistrates Court and pleaded guilty to three charges of making false or misleading statements in documents submitted to ASIC.

The charges, which follow an ASIC investigation, allege that on or about 3 August 2016, and in support of an ap...

By Kwame Slusher