Unpacking APRA and ASIC’s Observations of FAR Implementations

The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC), the Regulators, have issued a joint letter detailing their observations about how the banking industry has implemented measures to comply with the Financial Accountability Regime (FAR).

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ASIC Action Results in $1.25 Million Fine of “Licensee for Hire” Firm

The Australian Federal Court recently issued a staggering $1.25 million penalty against a wholesale licensee. 

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