Archive | ASIC

ASIC news hub

2021
01
April
2021
| 14:21 Australia/Sydney
Unfair contract terms protections have applied to most small business contracts since November 2016. From 5 April 2021, these protections will be extended to include insurance contracts which small businesses enter into or renew, and terms in exis...
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30
March
2021
| 13:11 Australia/Sydney
The outcome of ‘test cases’ before Australian courts should clarify whether business interruption insurance policies cover losses from the COVID-19 pandemic. Small businesses should contact their broker or insurer and ask whether their policy cove...
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24
March
2021
| 08:06 Australia/Sydney
Help is available for people with flood-related property damage. Six finance-related steps to take once immediate danger has passed. Be wary of anyone who asks for payment up-front or who asks you to sign a contract immediately. ...
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22
March
2021
| 15:11 Australia/Sydney
Unfair contract terms protections will apply to consumer and small business insurance contracts entered into or renewed from 5 April 2021, and to terms in existing contracts that are varied from 5 April 2021. ASIC has conducted a targeted review o...
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16
March
2021
| 12:00 Australia/Sydney
ASIC warns first-time traders to be vigilant against misinformation on trading strategies and products. First-time traders should familiarise themselves with the basics before choosing investments. ASIC has no tolerance for breaches of short-sell...
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16
March
2021
| 10:34 Australia/Sydney
ASIC is alerting investors about a suspicious investment opportunity – Beurax Corporation Pty Ltd (ACN 643 681 654) and its website, beurax.com. The Beurax website promoted a trading platform and deposit plans and offered unrealistically high and ...
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12
March
2021
| 14:27 Australia/Sydney
Reports of misconduct increased more than 200% compared to last year. New imposter bond investment scams have emerged. Visit ASIC Moneysmart to learn more about investment scams. ...
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17
February
2021
| 16:00 Australia/Sydney
The Australian Government has introduced new laws to help combat illegal phoenix activity From 18 February 2021, a company director will not be able to backdate their resignation more than 28 days or resign if it means the company would be left wi...
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28
January
2021
| 14:57 Australia/Sydney
Scammers are sending fake, professional-looking prospectuses that offer unrealistically high returns. ASIC is aware of two such scam operations targeting investors in Australia and overseas. Investors can check ASIC’s Offer Notice Board to see if...
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22
January
2021
| 14:22 Australia/Sydney
A suspicious website, Alliance Limited, is misleading traders and investors by wrongly displaying ASIC’s logo. ASIC and other Australian Government agencies never endorse particular investment opportunities. Beware of fake endorsements of investm...
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18
January
2021
| 13:10 Australia/Sydney
The Australian Government introduced insolvency reforms for small businesses that came into effect on 1 January 2021, including temporary restructuring relief. These reforms extend some of the temporary measures introduced in March 2020 in response t...
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2020
29
December
2020
| 13:05 Australia/Sydney
New insolvency reforms apply to incorporated small businesses with liabilities of less than $1 million. Reforms include new debt-restructuring and simplified liquidation processes. Government is creating a new ‘class’ of registered liquidator who...
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17
December
2020
| 12:37 Australia/Sydney
ASIC has written to insurers in Australia calling on them to consider action ahead of the imminent La Nina event season – La Nina event seasons have an increased likelihood of flooding, cyclones and hailstorms Research commissioned by ASIC follow...
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07
December
2020
| 08:00 Australia/Sydney
ASIC invites licensees to consider how they can enhance their remediation design and execution practices using its new practical field guide, Making it Right. It was created in response to industry demand and answers the frequently asked questions...
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03
December
2020
| 16:05 Australia/Sydney
You may be entitled to compensation via the Freedom Insurance Remediation Program if you were sold a Freedom Insurance life or funeral insurance policy issued by either AIA Australia, NobleOak Life, or Swiss Re Life & Health Australia between Octob...
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02
December
2020
| 14:40 Australia/Sydney
Identify the issues you need to consider if financial difficulties are affecting your small business. Three important questions all SME company directors should ask if the business is facing financial difficulty. This video outlines information f...
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02
December
2020
| 14:38 Australia/Sydney
The legal obligations imposed on a company director are complex and serious. A company director can be exposed to personal liability or may be found civilly liable, or even criminally convicted, for conduct relating to how they run a company or ho...
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02
December
2020
| 14:34 Australia/Sydney
If a small business owner starts to feel like running their company is becoming difficult, what should they do? ...
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24
November
2020
| 16:36 Australia/Sydney
Company and business name registrations increased slightly in the first nine months of 2020 compared to 2019. Guidance and support are available for companies and small business owners impacted by the COVID-19 pandemic. There has also been a chan...
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11
November
2020
| 15:32 Australia/Sydney
Contract-for-difference (CFD) trading is changing for retail clients in Australian markets. From 29 March 2021, maximum ratios will restrict CFD leverage offered to retail clients. These and other changes bring Australia into line with other majo...
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19
October
2020
| 09:00 Australia/Sydney
Take steps to minimise the adverse impact of the collapse or closure of other small businesses (small and medium enterprises (SMEs)). What to do if you are owed money – steps to debt recovery as a creditor. Seek advice from a trusted business adv...
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01
October
2020
| 16:59 Australia/Sydney
Banks and lenders are contacting small business customers whose loan repayment deferrals are expiring. Contact your bank or lender if you have deferred your business loan repayments. Support and resources are available to Australian businesses im...
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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 ...
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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. ...
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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...
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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...
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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. ...
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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...
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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 ...
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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...
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