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FOS Consults on New Terms of Reference |
 The Financial Ombudsman Service (which was created by the merger of FICS with the banking and the insurance Ombudsmen in July) is consulting on its new Terms of Reference. Submissions are due 10 October.
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ShareGift AML/CTF Application Successful |
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ShareGift Australia is a registered charity which provides a facility for people to sell shares and donate the proceeds to charity at no cost. ShareGift relies on brokers to execute the sales pro-bono.
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SEC & ASIC Sign Markets Mutual Recognition Agreement |
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In August a new mutual recognition agreement was signed by ASIC, SEC and Senator the Hon Nick Sherry. SDIA held confidential preliminary discussions with ASIC and Treasury on the proposed agreement earlier this year, which is aimed at promoting the benefits of cross border investment and capital formation.
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ASX Capital Requirements |
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In July, ASX announced (without prior consultation) that Core Liquid Capital for ACH Clearing Participants would be increased from $100,000 in two stages. A lengthy submission was made by SDIA to ASX in August, as follows:
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AML Update |
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SDIA and AUSTRAC have been engaged in planning the second in this year’s series of seminars on the new AML/CTF requirements top be held nationally during October.
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