Latest Updates

ASIC Updates

What's New at ASIC in 2022 There are a number of changes that have been released by ASIC this year. Some key changes are summarised for you below. If you would like more information about anything you read here, please either contact GRC Essentials or refer to the...

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Proposed Guidance on Source of Funds

OVERVIEW AUSTRAC has released a proposed guidance on source of funds and source of wealth document. The document goes into depth about the AML/CTF obligation to determine the source of funds and source of wealth for high-risk clients, PEPs, and trigger events....

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Corporate Collective Investment Vehicle (CCIV)

OVERVIEW On 22 February 2022, a new law was passed establishing the company structure known as a “corporate collective investment vehicle” (CCIV) and will be included in the Corporations Act from 1 July 2022. The CCIV is an alternative investment vehicle to manage...

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Discussing Financial Services Online

BACKGROUND In 2021, ASIC conducted the ASIC young people and money survey. They found that 33% of 18–21-year-olds follow at least one financial influencer on social media. The survey also found that another 64% of young people reported changing at least one of their...

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Fee Disclosure Document

Fee Disclosure Document Legislation changes took effect from 1 July 2021 with a 12-month transition period. The key notes were: Grandfathering was removed for pre-FOFA clients, all clients with an ongoing fee arrangement need to receive an annual FDS and renewal...

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RG 263 Financial Services Credit Panel

ASIC has just released Consultation Paper 359 Update to RG 263 Financial Services and Credit Panel (CP 359).  They are wanting feedback on their proposed guidance regarding the operation of a single, centralised disciplinary body for financial advisers, the...

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What can you expect from these updates?

Our updates are intended to keep you up to date with recent legislative changes, industry trends and news. We will also let you know if there is any accompanying training material that you are your team could utilise in relation to the topic. Please browse through are...

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