Both the ASIC Chair and Deputy Chair emphasised that ASIC is one of Australia's most active law enforcement agencies, pointing to ASIC's enforcement over the past several years post-Hayne in support. Both Ms Court and Mr Longo drew a distinction between ASIC's stance pre and post the Hayne...
Moreover, ASIC kept the scope of the upcoming rules broad. Any firm conducting operations from Australia (regardless of which customers are being onboarded), accepts or has accepted Australian retail clients, or targets Australian clients needs to ensure they review their requirements for doing so...
Ms Chester said that ASIC has proven itself willing to take action to enforce compliance and stands ready to take 'targeted enforcement action' Overview In her12 October 2023 address to the Insurance Council of Australia ConferenceAustralian Securities and Investments Commission (ASIC) Deputy Chair Kar...