ACP-admin, Author at ACP Advisory - AFSL | Global Financial Licensing Consultant

AUSTRAC releases four new Australian banking sector risk assessments

Today AUSTRAC released four new Australian banking sector money laundering and terrorism financing (ML/TF) risk assessments. The four assessments examine the threats criminals pose to Australia’s major banks, other domestic banks, foreign subsidiary banks and foreign bank branches operating in Australia. Australia’s banking sector sits at the centre of our financial services industry, providing an […]

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ASIC Prioritizes Monitoring of CFDs and Binary Options Compliances

Forex, Industry, Regulations / ACP-admin

The Australian Securities and Investments Commission (ASIC) published on Thursday its four-year corporate plan for 2021 to 2025, outlining its priorities on the distribution of retail over-the-counter derivatives, especially on the contracts for difference (CFDs) and binary options. The regulator pointed out three key actions on its intervention in the retail OTC derivatives industry. First,

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ASIC Warns against Trading Cryptos on Unlicensed Exchanges

Blockchain, Industry, Regulations / ACP-admin

The Australian Securities and Investments Commission (ASIC) has become the latest financial market regulator to ring the warning bell against the unlicensed cryptocurrency venues. According to a notice published on Wednesday, the regulator has cautioned Aussie investors who are investing in crypto-related financial products and services on platforms that do not hold an Australian Financial Services

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Asic to phase in financial sector reforms

Community / ACP-admin

The new laws include design and distribution obligations, restrictions on the unsolicited selling of financial products (hawking), a deferred sales model for add-on insurance products, reference checking and information sharing requirements for financial advisers and brokers, and new requirements around how breaches are reported to ASIC and disputes are managed internally in firms. “These

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Everything you need to know about NSW’s COVID lockdown financial support

Community / ACP-admin

Businesses forced to close due to the Sydney lockdown will be eligible for weekly payments.(ABC News: James Carmody NSW’s COVID-19 lockdown will go for at least another four weeks, prompting the state and federal governments to announce more financial lifelines for businesses and individuals. The new measures will cost about $750 million a week and

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Credit industry faces higher ASIC levies

Business, Industry, Mortgage, Regulations / ACP-admin

ASIC has published its draft Cost Recovery Implementation Statement for the 2020-21 financial year, with expectations of what each finance sector will be charged to fund its regulation. The levies, which are based on ASIC’s regulatory costs and business metrics, will be finalised in December and invoiced in January next year. The regulator has

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Compliance Checklist: What a Company Needs to Do to Be AML Compliant

Business, Industry, Regulations / ACP-admin

Global penalties for AML regulation non-compliance are increasing year after year. Overall, the number of fines in 2020 was $10.4 billion. Major banks like Deutsche Bank (USA) and Commerzbank (UK) were fined millions of dollars for non-compliance. In this article, I will try to review what is necessary for any company to stay compliant.

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ASX Calls for Regulations of Crypto Custodians

Blockchain, Business, Industry / ACP-admin

The Australian Securities Exchange (ASX) wrote a letter to the country’s Senate last week pointing out several risks in holding digital assets and calls for better regulations around the industry. “On major blockchain platforms such as Bitcoin and Ethereum, digital assets are associated with a user through an address. Whoever can access the address is

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How to claim the COVID-19 Disaster Payment: $100 increase for week four of lockdown

Business, Community / ACP-admin

The Federal Government’s COVID Disaster Payment has once again gone through another change – this time bumping up the weekly payment by as much as $100 if a state’s lockdown goes into a fourth week. Prime Minister Scott Morrison announced this afternoon that if you are unable to work due to public health orders, you

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Don’t file your tax return too early!

Business, Taxation / ACP-admin

Lodging a tax return too early without all the right information can result in refunds being delayed. As the new financial year sees more than 14 million taxpayers file their returns, the Australian Taxation Office (ATO) is asking taxpayers to hold off lodging too early. Key points: Millions of Australians are rushing to lodge their tax

Don’t file your tax return too early! Read More »

Author name: ACP-admin

AUSTRAC releases four new Australian banking sector risk assessments

ASIC Prioritizes Monitoring of CFDs and Binary Options Compliances

ASIC Warns against Trading Cryptos on Unlicensed Exchanges

Asic to phase in financial sector reforms

Everything you need to know about NSW’s COVID lockdown financial support

Credit industry faces higher ASIC levies

Compliance Checklist: What a Company Needs to Do to Be AML Compliant

ASX Calls for Regulations of Crypto Custodians

How to claim the COVID-19 Disaster Payment: $100 increase for week four of lockdown

Don’t file your tax return too early!

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