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regulatory

ASIC invites feedback on pre-hedging guidance

ASIC is inviting feedback on a new pre-hedging regulatory guide, aligning Australia’s approach with international standards set by IOSCO. The proposed guide clarifies existing obligations for market participants, helps assess appropriate pre-hedging practices, and highlights methods to manage conduct risk and maintain market integrity. This initiative builds on previous ASIC communications and does not introduce new legal requirements.

ASIC·
ASIC invites feedback on pre-hedging guidance
regulatory

ASIC and APRA host superannuation CEOs to discuss system risks and operational resilience

ASIC and APRA recently held two Superannuation CEO Roundtables on April 8 and 15, 2026. The discussions involved 12 superannuation CEO representatives and focused on findings from APRA's System Risk Stress Test. Key themes included system-wide risk, operational resilience, and regulatory changes within the industry.

ASIC·
ASIC and APRA host superannuation CEOs to discuss system risks and operational resilience
regulatory

ASIC extends class no-action position to second party opinion providers

ASIC has extended a class no-action position regarding the requirement for second party opinion (SPO) providers to hold an Australian financial services (AFS) licence when providing general financial product advice to wholesale clients. This extension, until June 15, 2028, allows time to consider the impact of upcoming climate reporting requirements and regulatory changes. The no-action position is conditional, requiring an SPO to be connected with offers to wholesale clients, have adequate conflict management, and include specific disclosures.

ASIC·
ASIC extends class no-action position to second party opinion providers
regulatory

ASIC puts private credit on notice, ahead of 30 June valuations and reporting

ASIC has issued a directive to Australia's private credit sector, emphasizing the need for current, accurate, and realistic asset valuations by June 30. The regulator also expects boards and participants to review practices against ASIC's ten principles, as the market transitions from rapid growth to a more demanding phase with increased macroeconomic pressure and credit stress. This comes as retail investor and superannuation exposure to private credit rises, with increasing linkages between international and domestic markets.

ASIC·
ASIC puts private credit on notice, ahead of 30 June valuations and reporting
regulatory

ASIC releases guidance on its powers to appoint a reviewing liquidator

ASIC has released new guidance, Information Sheet 296, clarifying its discretionary power to appoint a reviewing liquidator for companies in external administration. This guidance details the application process, factors ASIC considers, and expectations for external administrators, aiming to provide greater clarity to liquidators and applicants. This initiative helps stakeholders understand when and how ASIC might intervene in corporate insolvencies.

ASIC·
ASIC releases guidance on its powers to appoint a reviewing liquidator
regulatory
leadership

ASIC Chair Sarah Court speaks at ABA Conference

ASIC Chair Sarah Court spoke at the ABA Conference, reflecting on the significant changes within ASIC over the past five years. She highlighted the strengthening of ASIC's enforcement posture, leading to record penalties and custodial sentences. The ASIC Chair also emphasized the regulator's continued focus on consumer outcomes, particularly in financial hardship and scams, and improvements alongside the banking sector.

ASIC·
ASIC Chair Sarah Court speaks at ABA Conference
regulatory
legal

Federal Court orders record $300 million penalties in ASIC’s case over ‘egregious’ Union Standard and CFD operator misconduct

The Federal Court has imposed record penalties of over $300 million on Union Standard International Group Pty Ltd, a collapsed CFD issuer, and its former authorized representatives, EuropeFX and TradeFred. This action by ASIC addresses systemic unconscionable conduct and legal contraventions that resulted in over $83 million in losses for customers. The substantial penalties aim to deter other CFD operators from similar misconduct.

ASIC·
Federal Court orders record $300 million penalties in ASIC’s case over ‘egregious’ Union Standard and CFD operator misconduct
regulatory
legal

ASIC disqualifies Shashikumari Agrawal, wife of convicted Mansa Group director, from managing corporations for 5 years

ASIC has disqualified Shashikumari Agrawal from managing corporations for five years due to her involvement in the failure of eight Mansa Group companies. Her husband, Krishnakumar Agrawal, was previously sentenced to imprisonment for contraventions related to the group's collapse. The failed companies owe at least $76.8 million.

ASIC·
ASIC disqualifies Shashikumari Agrawal, wife of convicted Mansa Group director, from managing corporations for 5 years

Privacy policy

ASIC has published a summary and a complete version of its privacy policy, detailing how the organization handles personal information. Additionally, ASIC maintains a Privacy Impact Assessment (PIA) Register, in compliance with the Australian Government Agencies Privacy Code. This register documents PIAs conducted for projects that significantly affect personal information handling.

ASIC·
Privacy policy
legal
regulatory

ASX admits misleading conduct relating to CHESS replacement project

ASX Limited has admitted that its February 2022 market announcement, stating the CHESS replacement project was "progressing well," was misleading. The company faced a potential fine of $20.5 million and $3 million in costs to ASIC. ASX later acknowledged significant issues and a delay in the project, leading to pre-tax project costs derecognition of approximately $245–255 million.

ASIC·
ASX admits misleading conduct relating to CHESS replacement project
regulatory

ASIC permanently bans Abdullah Popal from financial services and credit

ASIC has permanently banned Abdullah Popal from all financial services and credit activities due to fraud convictions. Mr. Popal was convicted of dishonestly obtaining $89,932 from former clients' bank accounts. The ban, effective June 2, 2026, prevents him from providing services, controlling related entities, or performing functions within such entities.

ASIC·
ASIC permanently bans Abdullah Popal from financial services and credit
regulatory

ASIC and APRA announce FAR changes to reduce administrative burden

ASIC and APRA are set to streamline the Financial Accountability Regime (FAR) to alleviate administrative burdens on entities without compromising accountability standards. Proposed changes include removing key functions requirements, raising materiality thresholds for change notifications, and no longer requiring direct reports' information in accountability maps. These adjustments are projected to reduce reporting efforts for approximately 4500 accountable individuals and halve the frequency of updates needed for accountability maps, with implementation targeted for the end of 2026. ASIC will also simplify responsible manager licensing requirements for FAR entities by reducing evidence of competence submissions from October 2026, benefiting about 2000 licensees.

ASIC·
ASIC and APRA announce FAR changes to reduce administrative burden
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