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  • ASIC Annual Forum 2023: Retirement Income Covenant: One Year On

    Date 22/11/2023

    KEY POINTS

    • This article follows a session on the impact of the retirement income covenant on the superannuation industry at the 2023 ASIC Annual Forum in Melbourne.
    • The covenant requires trustees to develop a retirement income strategy to improve long-term outcomes for members in or approaching retirement.
    • Protecting consumers as they plan and make decisions for retirement is a strategic priority for ASIC. However, a year after the introduction of the covenant, ASIC and the Australian Prudential Regulation Authority (APRA) conducted a joint review which found that more progress was needed to implement it.

  • Hong Kong Securities And Futures Commission Reprimands And Fines Lion Futures Limited $2.8 Million For Regulatory Breaches

    Date 22/11/2023

    The Securities and Futures Commission (SFC) has reprimanded and fined Lion Futures Limited (LFL) $2.8 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) and other regulatory requirements between May 2017 and July 2019.

  • ASIC Annual Forum 2023: Disruption By Natural Disasters

    Date 22/11/2023

    KEY POINTS

    • This article follows a session on the impact of increased natural disasters on insurers and their customers at the 2023 ASIC Annual Forum in Melbourne.
    • ASIC has identified three areas of improvement across the insurance sector, needed to ensure good consumer outcomes - making good on pricing promises, better claims handling practices and strengthened product design and distribution.
    • At a time when extreme weather events are becoming more frequent, insurers need to adapt to ensure they can balance the need for affordable, quality products with sustainable business models.

  • Coincover And Utila Partner To Enhance Crypto Asset Management

    Date 22/11/2023

    Coincover, the blockchain protection company, has joined forces with Utila, a cutting-edge enterprise-grade crypto operations platform. This strategic partnership brings together Coincover’s renowned protection solutions and Utila’s secure, non-custodial wallet infrastructure.

  • ASIC Annual Forum 2023: How Digital Innovation Is Transforming Financial Markets

    Date 22/11/2023

    KEY POINTS

    • This article follows a session on the pace of technologically driven change in global financial markets at the 2023 ASIC Annual Forum in Melbourne.
    • Technology is forging new digital ecosystems and the reshaping financial system. Regulators and industry alike must do all they can to navigate disruption, and avoid learned market abuse, misinformation, discrimination, and bias.
    • ASIC supports technological change that improves outcomes across the financial system, and takes a principles-based, technology-neutral approach to regulation.