ASIC fastens Net regulations
Regulatory body the Australian Securities and Investments Commission (ASIC) has laid down guidelines covering which Internet-based security offerings do not fall under its jurisdiction.
ASIC will not seek to regulate an Internet-based offer accessible in Australia, according to ASIC Policy Statement 141, so long as it:
* is not targeted at Australians;
* indicates in a disclaimer which jurisdictions it is available in; and
* has no significant effect on Australian markets or consumers.
Issues targeting Australians must comply with Australian regulatory requirements, and must include a similar jurisdictional disclaimer in their electronic prospectuses. This will help avoid regulatory action in jurisdictions where the offer is not targeted.
Recommended for you
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
ASIC was active in the first quarter of 2025 with several financial adviser bannings and court action, while the FSCP also handed down outcomes to advisers.
With a joint venture announced between WT Financial and Merchant Wealth Partners, the firm may have a US background, but partner David Haintz has a long history with Australian financial advice.
The big four bank is set to see $40 million per annum in cost savings as it continues to migrate customers from its Asgard wealth platform to BT Panorama by FY26.
