Archive | ASIC

ASIC news hub

2020
23
September
2020
| 08:45 Australia/Sydney
Banks and lenders are contacting customers whose repayment deferrals are expiring. Contact your bank or a financial counsellor if you have deferred your mortgage repayments. ASIC provides free information and tools on Moneysmart to help you with ...
Read more
17
September
2020
| 08:57 Australia/Sydney
ASIC is stopping unsubstantiated claims in prospectuses about COVID-19 treatments and forecast returns. Any forecasts or forward-looking statements must have a reasonable basis. ASIC’s Corporate Finance Update newsletter has more information. ...
Read more
16
September
2020
| 08:59 Australia/Sydney
Most transactions in January to June 2020 were takeovers – a departure from the recent trend towards schemes. ASIC will continue to focus its M&A activities on structural and conduct elements of transactions. As the uncertainty around the COVID-1...
Read more
15
September
2020
| 09:00 Australia/Sydney
ASIC is actively monitoring financial services advertising during the COVID-19 pandemic. ASIC will act where we see misleading claims and predatory behaviour. Before publishing financial ads, look at ASIC's Regulatory Guide 234 and where appropri...
Read more
11
September
2020
| 09:00 Australia/Sydney
Visit ASIC's Moneysmart for resources and information on financial hardship. Visit ACCC's Scamwatch for information about COVID-19 scams. Visit Moneysmart for information on insurance including life insurance and travel insurance. ...
Read more
26
August
2020
| 14:59 Australia/Sydney
As an investor, you may still be able to access your money if you’re experiencing financial hardship – contact your responsible entity for more information. Freezing a fund does not always mean that distributions, such as income payments, have sto...
Read more
20
August
2020
| 12:29 Australia/Sydney
Mortgage repayment deferrals due to COVID-19 are expiring soon. ASIC encourages all lenders to continue working with customers to find solutions that are right for them. Lenders should develop solutions for customers that are sustainable and can ...
Read more
20
August
2020
| 11:29 Australia/Sydney
ASIC is aware of people pretending to be a legitimate lender (e.g. banks, credit unions) and offering fake loans to Australian consumers. This usually occurs after the consumer completes an online enquiry form expressing interest in a loan. Be war...
Read more
03
August
2020
| 13:35 Australia/Sydney
When choosing an investment product, carefully assess whether the product is appropriate for your circumstances and risk appetite. Investors should read and double check all relevant information before committing to an investment product. If in d...
Read more
30
July
2020
| 13:54 Australia/Sydney
Scammers pretending to represent ASIC are offering to help people consolidate superannuation accounts. ASIC never gives permission to use its employees’ names or the ASIC logo to promote financial products or services. If you think you or someone...
Read more
29
July
2020
| 15:07 Australia/Sydney
Kochie, Celeste Barber and Waleed Aly among many celebrities whose endorsements are being used fraudulently. Bitcoin scammers are fraudulently using prominent news sites and government agencies in an attempt to legitimise scams. Avoid crypto trad...
Read more
17
July
2020
| 13:07 Australia/Sydney
Fewer companies were registered with ASIC in the first six months of 2020 compared to the first six months of 2019. In the same period, the number of newly registered business names increased. Advice and support are available for companies and sm...
Read more
07
July
2020
| 10:44 Australia/Sydney
ASIC is providing responsible entities with clarity on regulatory issues arsing from the COVID-19 pandemic. Responsible entities may now submit some documents electronically. The deadline for entities to lodge financial reports has been extended....
Read more
03
July
2020
| 09:00 Australia/Sydney
ASIC is providing superannuation trustees with clarity on regulatory issues arising from the COVID-19 pandemic. Superannuation trustees must continue to comply with the law and act in the best interests of their members. ASIC's temporary relief m...
Read more
26
June
2020
| 09:00 Australia/Sydney
Reports of misconduct are up 20% compared to the same period last year. If you think you or someone you know has been scammed, lodge a report of misconduct with ASIC. For more information about investment scams, visit ASIC’s Moneysmart website. ...
Read more
23
June
2020
| 09:06 Australia/Sydney
September will mark the end of COVID-19 loan deferrals and payment schemes. ASIC asks banks and lenders to work with their customers in the lead-up to September. ASIC taskforces are targeting false and misleading advertising, scams, and the appro...
Read more
22
June
2020
| 11:00 Australia/Sydney
Take steps to minimise the adverse impacts of the collapse or closure of other small and medium enterprises (SMEs) you deal with. What to do if you are owed money – steps to debt recovery as a creditor. It is important to seek advice from a trust...
Read more
22
June
2020
| 10:00 Australia/Sydney
As the director of a company trading a business, it’s your legal duty to monitor the financial position of your business to ensure it can pay its debts when they are due. Temporary relief measures introduced by the government in response to COVID-...
Read more
22
June
2020
| 09:00 Australia/Sydney
If your company has been impacted financially by the COVID-19 pandemic, this article provides information on closing, winding-up or restructuring a company. Advice and support are available for small business owners. Mental health resources – whe...
Read more
18
June
2020
| 13:33 Australia/Sydney
An increased number of Australians have reported crypto-asset (or cryptocurrency) scams to ASIC. Most crypto ‘investment opportunities’ reported to ASIC appear to be outright scams. Offenders are difficult to catch and money lost on bitcoin scams...
Read more
12
June
2020
| 15:02 Australia/Sydney
A fake website – Market Makers Insider/MMI Forex – is misleading traders and investors by displaying the name and photo of ASIC Chair James Shipton. Similar false representations are also made via the entity’s Telegram site. Beware of fake endors...
Read more
03
June
2020
| 15:30 Australia/Sydney
ASIC is aware of scammers taking advantage of people during this time of heightened uncertainty. Over recent weeks, ASIC has received reports of misconduct from consumers and investors noticing dodgy practices and scams. Scams can take many forms...
Read more
02
June
2020
| 09:00 Australia/Sydney
How to protect your small business. Small business and financial distress. Trading while insolvent. ...
Read more
01
June
2020
| 15:45 Australia/Sydney
Temporary relief measures for financial advisers. ASIC is monitoring how market conditions affect the financial advice industry during COVID-19. We have outlined the steps we will take to reduce regulatory burden for the industry, and will provid...
Read more
28
May
2020
| 15:16 Australia/Sydney
COVID-19 has caused many businesses to experience financial distress. Sometimes, when businesses are in financial distress, pre-insolvency advisers may initiate contact and offer to help. ...
Read more
14
May
2020
| 13:56 Australia/Sydney
ASIC has outlined its expectations for all market participants to act appropriately to ensure Australia’s equity markets remain resilient. ...
Read more
13
May
2020
| 13:14 Australia/Sydney
One-month extension for balance dates up to and including 7 July 2020. Applies to listed and unlisted entities. ...
Read more
13
May
2020
| 13:14 Australia/Sydney
ASIC's 'no action' position extended for public companies' AGMs ASIC guidance for using virtual technology for meetings Financial reporting deadlines extended ...
Read more
07
May
2020
| 16:58 Australia/Sydney
Consider your entity’s trading policy. Consider the information in your possession – and account for the current uncertain and volatile market conditions. Notify the market. Consider conflicts and disclosure obligations arising from margin loans...
Read more
07
May
2020
| 12:07 Australia/Sydney
ASIC is working closely with exchanges and market participants to make sure the financial system is able to operate effectively and markets remain open. We will continue to actively monitor market developments domestically and overseas and take ac...
Read more