Category: Press Releases

Check against delivery Good evening. I would like to start by acknowledging the Traditional Owners of the land on which we meet, the Whadjuk Noongar people, and pay my respects to their Elders, past and present. I extend that respect to Aboriginal and Torres Strait Islander peoples here today. It’s a real pleasure to be...

ASIC today has outlined an expanded program of work to enhance the integrity and quality of financial reporting and auditing in Australia in achieving the broader goal of confident and informed investors. ASIC’s pro-active financial reporting and audit surveillance program remains a key part of our work. The program covers listed companies, other public interest...

Umuthi Healthcare Solutions has withdrawn its reference to the Upper Tribunal. Umuthi was challenging the FCA’s decision to discontinue the listing of its standard shares from the Official List. The withdrawal means that our First Supervisory Notice remains in force, and the discontinuance of the listing of Umuthi’s shares remains in effect.

Following the public statement of 14 December 2023, the European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the final report containing Guidelines on funds’ names using ESG or sustainability-related terms. The objective of the Guidelines is to ensure that investors are protected against unsubstantiated or exaggerated sustainability...

ASIC has permanently banned Melbourne based financial adviser Kudzanai Philip Dzawo from providing any financial services, performing any function involved in the carrying on of a financial services business and from controlling an entity that carries on a financial services business. ASIC found that Mr Dzawo dishonestly attempted to induce clients to transfer their superannuation...

He was also given a Rehabilitation Activity Requirement of 35 days and ordered to carry out 150 hours of unpaid work. On 28 March 2024, Mr Bayes was found guilty of insider dealing following an 8-week trial at Southwark Crown Court in a prosecution brought by the Financial Conduct Authority (FCA). Sentencing Mr Bayes, His...

Two Western Australian directors have been convicted in the Perth Magistrates Court and fined $5,000 each for failing to comply with director identification requirements. Alexander Henry was convicted ex-parte on 3 May 2024 of contravening section 1272C(2) of the Corporations Act 2001 for failing to have a director identification number. Mr Henry is a director...

ASIC is calling on superannuation trustees to renew efforts to protect members from unscrupulous operators amid evidence of inadequate oversight of advice fee deductions. A newly published ASIC report outlines key findings from a review of the progress superannuation trustees have made in addressing deficiencies in their monitoring of fee deductions for the provision of...

Highlights Building societies have been a force for good, reaching under-served communities and customers, and turning risk into opportunity They must embrace technology and continue to evolve without losing their community-centred credentials Lenders need to continue to innovate to support their customers and watch that they, and their customers, do not take on too much...

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 April on the DORA preparations for the European Supervisory Authorities (ESAs) and the industry: the arrangements for the next implementation stage, the consultation...