Day: September 5, 2023

ASIC has commenced civil penalty proceedings in the Federal Court against Westpac Banking Corporation for failing to respond to customers’ hardship notices within the time required by law. ASIC alleges that between 2015 and 2022, a deficiency with Westpac’s online hardship notice process resulted in 229 Westpac customers not receiving a response to their hardship …

ASIC sues Westpac for failing to respond to hardship notices Read More »

ASIC proposes to remake ASIC Class Order [CO 13/1050] Financial reporting by stapled entities. Under the Legislation Act 2003, legislative instruments cease automatically, or ‘sunset’, after 10 years, unless they are remade before the sunset date. The purpose of sunsetting is to ensure that instruments are kept up to date and only remain in force …

ASIC proposes to remake financial reporting legislative instrument Read More »