Articles tagged with 'COVID-19' | ASIC

ASIC news hub (COVID-19)

2021
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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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
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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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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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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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...
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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...
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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...
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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...
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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....
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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...
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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. ...
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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...
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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-...
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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...
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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...
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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...
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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...
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