Aggregated News From Investment Management Regulators

ASIC amends financial advice and capital raisings COVID 19 instruments

Report/Flag

Please complete the required fields.



ASIC has today registered an amending instrument to specify an end date for three COVID-19 related instruments.

The ASIC Corporations (Amendment) Instrument 2020/565 makes the following amendments:

  1. The earlier amendment to the ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 will be repealed on 2 October 2020 (six months after the amendment commenced).
  2. The ASIC Corporations (Trading Suspensions Relief) Instrument 2020/289 will be repealed on 2 October 2020 (six months after it commenced).
  3. The ASIC Corporations (COVID-19 – Advice-related Relief) Instrument 2020/355 will be repealed on 15 October 2020 (six months after it commenced).

ASIC had publicly stated that these relief measures were temporary and ASIC would repeal the instruments following the COVID-19 crisis. However, following feedback from the Senate Standing Committee for the Scrutiny of Delegated Legislation, ASIC has decided to amend these instruments to include specific end dates.

ASIC will continue to monitor the appropriateness of these temporary relief measures in light of the uncertain impacts of COVID-19 on capital markets and on the demand for financial advice. If ASIC considers it appropriate to end the relief before the six month period or extend the relief, ASIC will give sufficient notice before any early repeal or extension is implemented.

Download

ASIC Corporations (Amendment) Instrument 2020/565

Explanatory statement

Capital raisings

Financial Advice

Source link

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

Amendments to the Investment Services Rulebooks to Implement the Revised ESMA Guidelines on Stress Test Scenarios under the Money Market Funds Regulation

Amendments to the Investment Services Rulebooks to Implement the Revised ESMA Guidelines on Stress Test Scenarios under the Money Market Funds Regulation – MFSA

CVM discloses methodology for defining the size of large minimum lots (art. 95, § 1, of CVM Resolution 135)

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content...

Truist Investment

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Industry Circular No. 5 of 2022 – Legislative Updates

The BVI Business Companies Act & The BVI Business Companies Regulations Receive Significant Updates The BVI Business Companies (Amendment) Act, 2022 ("the Amendment Act") and the...

Get the latest from Regulatory.News in your inbox!

×