Category: News

Check against delivery Good afternoon everyone. It’s great to be here today – thank you to ARITA for inviting ASIC to be a part of your national conference. I would like to begin by acknowledging the traditional owners and custodians of the land on which we meet today, the Yugambeh people. I pay my respects...

The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published three vacancy notices in the context of the Digital Operational Resilience Act (DORA). This announcement comes as part of the establishment of a fully integrated team within the 3 ESAs (joint oversight team) to carry out the oversight of critical third-party providers (CTPPs)...

The regulator found 7.4m people were struggling to pay bills and credit repayments in January 2024, down from 10.9m in January 2023. This is still higher than the 5.8m recorded in February 2020, before the cost of living squeeze began. As the FCA confirms stronger protections for borrowers, the regulator is reminding those in financial...

Following an application to the Administrative Appeals Tribunal (AAT) for review of a liquidator’s Disciplinary Committee’s decision, the AAT has decided that Cameron Lindsay Duncan’s liquidator registration should be reinstated, subject to conditions, for such time as he remains a non-resident of Australia. Mr Duncan applied to the AAT for a review of the Committee’s...

The ESMA market report on EU securities financing transactions (SFT) markets provides first comprehensive market-level overview of the EU repo market, based on information reported by market participants. It contributes to ESMA’s financial stability objective, by monitoring repo market developments and providing key risk metrics for its monitoring framework on securities financing transactions. The main...

Following an ASIC investigation, James Mawhinney, of Port Melbourne, Victoria, has been arrested and charged with four counts of engaging in dishonest conduct in the course of carrying on a financial services business. It is alleged that on four occasions between 9 August 2019 and 21 April 2020, Mr Mawhinney dishonestly misrepresented to the trustee...

Nicholas Benbow, director of William Buck Audit (Vic) Pty Ltd, has paid $20,625 to comply with 3 infringement notices issued by ASIC. This is the first time ASIC has issued an infringement notice under the Corporations Act for an alleged breach of audit rotation issues. The infringement notices were issued because ASIC has reasonable grounds...

The Financial Conduct Authority (FCA) has secured court approval to obtain £1.6m from Argento Wealth Ltd (AWL) and its sole director Mr Daniel Willis, who promoted 2 alleged unlawful investment schemes. The FCA previously commenced civil proceedings against AWL and Mr Willis to recover investor funds linked to the firm’s alleged unlawful activity, with the...

ASIC has cancelled the Australian financial services (AFS) licence of Menon & Associates Pty Ltd (489130). The licence was cancelled on the basis that Menon & Associates Pty Ltd is no longer carrying on a financial services business. ASIC may cancel an AFS licence held by an individual if the person ceases to carry on...

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter. Your one-stop-shop in the world of EU financial markets focused in February and March on EU Green Bonds and our extensive activity on the Markets in Crypto Assets Regulation (MiCA). In both cases, we...