[widget id="surstudio-translator-revolution-3"]

Australian Banking Association (ABA) launches new banking Code: a big step forward for banking staff and customer protection

Introduction to the new Code The Australian Banking Association’s (‘ABA’) new Banking Code of Practice (‘the Code’) came into effect on 28 February 2025. This latest iteration of the Code introduces enhanced customer protection and accessibility and sets higher standards for banks and their staff. The new Code sees significant structural and semantic changes from […]

Readmore

Gadens Regulatory Recap – 24 September 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, and ACCC including various enforcement actions taken by the regulators. ASIC ASIC calls on product issuers to review distribution practices for DDO compliance: ASIC is urging product issuers to improve their distribution practices following a review that found significant issues with how […]

Readmore

Changing development approvals for developers and property owners in Queensland

Developers or property owners often need to make changes to a development approval in response to changing market conditions or operational needs. In Queensland, under the Planning Act 2016 (Qld) (PA) a person may apply to change a development approval for either a ‘minor change’ or a change ‘other than for a minor change’ (other […]

Readmore

Gadens Regulatory Recap – 4 September 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, OAIC, Treasury, and the Federal Parliament including various enforcement actions taken by the regulators.  ASIC   ASIC continues extensive action against greenwashing  ASIC has made 47 regulatory interventions in relation to greenwashing misconduct, including commencing two Federal Court proceedings and issuing over […]

Readmore

Gadens Regulatory Recap – 21 August 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, OAIC, ACCC, and Treasury including various enforcement actions taken by the regulators. ASIC  Financial advice update: The Financial Advice Update, published by ASIC on 9 August 2024, highlights key regulatory developments affecting Australian financial services (AFS) licensees and financial advisers. The update […]

Readmore

ASIC continues focus on financial hardship processes

Lenders should prepare for both an increase in financial hardship applications and heightened scrutiny from the regulator on how these hardship applications are managed. The Australian Securities & Investments Commission (ASIC) has found that lenders are not complying with their obligations in the cases of customers who are facing financial difficulty. As the cost of […]

Readmore

Gadens Regulatory Recap – 8 August 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, OAIC, ACCC, and Treasury including various enforcement actions taken by the regulators. ASIC ASIC’s first greenwashing case results in landmark $11.3 million penalty for Mercer The Federal Court has ordered Mercer Superannuation (Australia) Limited (Mercer) to pay $11.3 million in penalties in […]

Readmore

Gadens Regulatory Recap – 29 July 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, OAIC, ACCC, and Treasury including various enforcement actions taken by the regulators.  ASIC  ASIC and OAIC share Memorandum of Understanding on information sharing to accelerate data and privacy breach responses: ASIC and the OAIC have agreed to and entered a Memorandum of […]

Readmore

Gadens Regulatory Recap – 11 July 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AFCA, ACCC, Treasury, and legislative updates, including various enforcement actions taken by the regulators. ASIC AFS licensees required to notify ASIC about ‘experienced provider pathway’ declaration From 1 July 2024, AFS licensees must notify ASIC within 30 business days if they receive […]

Readmore

ASIC presses for penalties and crypto regulatory clarity with Block Earner appeal

The decision by the Australian Securities and Investments Commission (ASIC) to appeal the latest Block Earner decision should give crypto asset providers some cause for concern. The regulator has signalled that, despite some recent court losses, it is prepared to continue its focus on the emerging industry in its pursuit of regulatory clarity. In February […]

Readmore

ASIC issues infringement notices to Fertoz Limited for alleged greenwashing

On 25 June 2024, the Australian Securities & Investments Commission (ASIC) confirmed that, on 21 June 2024, Fertoz Limited (Fertoz) had paid $37,560 in compliance with two infringement notices issued by ASIC in relation to alleged false or misleading statements that Fertoz had made in respect of its Reforestation Project in the Philippines. In issuing […]

Readmore

Gadens Regulatory Recap – 26 June 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AFCA, AUSTRAC, OAIC, ACCC, Treasury, the Council of Financial Regulators, and legislative updates, including various enforcement actions taken by the regulators.  ASIC   ASIC grants class no-action position to second party opinion providers: On 14 June 2024, ASIC issued a class no-action position […]

Readmore