2.8 — Reporting compliance concerns

All AFSL holders should be required, as a condition of their licence, to report ‘serious compliance concerns’ about individual financial advisers to ASIC on a quarterly basis. Government Response The Government agrees to mandate reporting of ‘serious compliance concerns’ about Read More …

The BEAR: Co-regulation

Recommendation 6.6 – Joint administration of the BEAR ASIC and APRA should jointly administer the BEAR. ASIC should be charged with overseeing those parts of Divisions 1, 2 and 3 of Part IIAA of the Banking Act that concern consumer Read More …