Business
Banks embrace ASIC’s fast-track enforcement – The Australian Financial Review
Lawyers will be the losers from the corporate regulator’s move to quickly resolve issues through rapid agreement with the country’s five largest financial institutions….
She said ASICs express investigation strategy was taking advantage of the increased powers it had been given under the Corporations Act, the Superannuation Industry Supervision Act and the ASIC Act.
The strategy began in 2019 with a series of pilot studies in financial services. In late 2020, the strategy was reviewed and ASIC engaged with the top five financial institutions.
Weve since met with their chairs, the CEOs and the general counsels, she told the Summit.
We explained how our six new cost-reducing…
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