Day: September 18, 2024

From 1 January 2025, many large Australian businesses and financial institutions will need to prepare annual sustainability reports containing mandatory climate-related financial disclosures, following the passage of a major bill through Parliament. The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) passed Parliament on 9 September 2024 and received Royal Assent …

ASIC urges businesses to prepare for mandatory climate reporting Read More »

The Federal Court has dismissed ASIC’s case against superannuation trustee, Retail Employees Superannuation Pty Ltd (Rest), for allegedly making misleading representations about limitations on members’ rights to transfer superannuation funds out of the Retail Employees Superannuation Trust between March 2015 and May 2018. ASIC Deputy Chair Sarah Court said, ‘Superannuation portability and choice of superannuation …

ASIC’s proceedings against Rest alleging misleading member representations are dismissed Read More »

We have published an update on the actions we have taken since our July 2023 cash savings market review, and the work we have done with the largest 9 firms on the value they provide. The average interest paid on easy access savings accounts rose to 2.11% in June 2024, up from 1.66% in July …

FCA publishes update on cash savings market and fair value Read More »

New rules from the FCA to protect access to cash have come into force and are already having a positive impact in local communities. Since the rules were confirmed in July, LINK, which manages the UK’s cash access and ATM network, has reassessed the needs of local areas where banking services are changing. As a …

New FCA rules to protect access to cash already having an impact Read More »