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Gadens Regulatory Recap – 4 April 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, the OAIC, and the ATO, including various enforcement actions taken by the regulators.  ASIC  New legislative instrument issued by ASIC extends relief for exchange traded funds: On 18 March 2024, the Australian & Investments Commission (ASIC) released new legislative instrument ASIC […]

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ASIC secures victory against Vanguard Investments for ‘ethically conscious’ greenwashing conduct

Last year, we reported on the Australian Securities and Investments Commissions (ASIC) commencement of proceedings against Vanguard Investments Australia Ltd (Vanguard) alleging that Vanguard engaged in misleading conduct in breach of the ASIC Act by making false or misleading claims about the ESG criteria applied to an investment fund it offered to potential investors. On […]

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Finder: ASIC to continue to pursue cases to clarify crypto regulation as the Federal Court finds that a crypto-asset is not a debenture

The Federal Court has handed down its second significant decision involving crypto assets this year. The judgment in ASIC v Finder Wallet Pty Ltd[1] (Finder) follows the recent decision in the BlockEarner case[2] and provides some further guidance for crypto-asset issuers attempting to navigate the present uncertainty around the intersection of digital assets and financial […]

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Gadens Regulatory Recap – 19 March 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, the OAIC, and the ATO including various enforcement actions taken by the regulators.  ASIC  ASIC calls on insurers to improve claims handling practices: On 6 March 2024, ASIC issued a letter reminding general insurers of their obligations regarding insurance claims […]

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Buy Now Pay Later: the shape of the new regulatory regime

Treasury has released the much anticipated draft legislation for the regulation of Buy Now Pay Later (BNPL) products and confirmed that BNPL providers should prepare to obtain a new or modified Australian Credit Licence and work through the impact of being regulated as credit providers on their businesses. Anti-avoidance protections promise to ensure there is […]

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Gadens Regulatory Recap – 5 March 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, the OAIC, and the ATO including various enforcement actions taken by the regulators. ASIC ASIC calls on industry to better respond to underperformance in choice superannuation investment portfolios: On 21 February 2024, ASIC released a report investigating how financial advisers, superannuation […]

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Is the presence of a renter a barrier to execution of a court warrant?

Since around April 2011, the Sheriff’s Office of Victoria has taken the view that they would not execute a court warrant of possession against a person in occupation of land if they were under a residential rental agreement within the meaning of the Residential Tenancies Act 1997 (Vic) (RTA) and the mortgagee must instead comply […]

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Gadens Regulatory Recap – 21 February 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, the OAIC, Treasury and ALRC, including various enforcement actions taken by the regulators. ASIC ASIC to crack down on predatory lending: ASIC has promised it will turn its attention to high-cost credit and predatory lending to consumers and small businesses, noting […]

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Gadens Regulatory Recap – 6 February 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, the OAIC, Treasury and ALRC, including various enforcement actions taken by the regulators.  ASIC  ASIC and APRA issue joint letter on delay of Financial Accountability Regime (FAR) commencement and implementation: ASIC and APRA have published a joint letter to all authorised […]

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Gadens Regulatory Recap – 23 January 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, the OAIC, and Treasury, including various enforcement actions taken by the regulators. ASIC ASIC extends product intervention orders for short term credit and continuing credit contracts: On 5 January 2024, the Australian Securities Investments Commission (ASIC) extended its product intervention […]

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Gadens Regulatory Recap – 12 December 2023

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, the OAIC, and Treasury, including various enforcement actions taken by the regulators. ASIC ASIC releases guidance on the registration of financial advisers: On 28 November 2023, the Australian Securities Investments Commission (ASIC) released guidance through Information Sheets 276 and 277 […]

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Gadens Regulatory Recap – 30 November 2023

This edition of the Gadens’ Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, AUSTRAC, the OAIC, and Treasury, including various enforcement actions taken by the regulators and updates from the 2023 ASIC Annual Forum.  ASIC ASIC and AFSA sign refreshed MoU: On 16 November 2023, the Australian Securities Investment Commission (ASIC) and Australian […]

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