FSA JP
FSA publishes Weekly Review No.456
September 16, 2020
What’s New on the FSA Website
Week of September 3, 2021 – Sepbember 9, 2021
This page contains the latest in events, developments, and updates to the FSA website.
ASIC AU
Lawyer and former company officers associated with Members Alliance and Benchmark groups facing 72 criminal charges
On 10 September 2021, Mr Richard Marlborough, Mr Colin MacVicar, Mr David Domingo, Mr Liam Young and Mr John Ramsden appeared in the Brisbane Magistrates Court charged with criminal offences relating to the collapse of the Members Alliance and Benchmark group of companies in 2016 and 2017.
The Members Alliance and Benchmark groups allegedly operated property investment vehicles on the Gold Coast, offering financial advice to retail investors. In July 2016, eighteen group companies were placed into liquidation with a $26 million debt owing to the ATO.
The charges follow an ASIC-led Serious Financial Crime Taskforce (SFCT) investigation into the collapse...
ASIC AU
Jayex Technology writes down goodwill
ASIC notes the decision by Jayex Technology Limited (Jayex) to write down the goodwill for its UK cash generating unit by $1.93 million in its financial report for the half-year ended 30 June 2021.
ASIC had expressed concerns about Jayex’s financial report for the year ended 31 December 2020 in relation to:
the value of goodwill for Jayex’s UK business, due to optimistic forecast revenue growth rates (50.1% for 2021) despite the significant impact of COVID-19; and
a materially incorrect revenue growth rate disclosure (5.5%).
Jayex corrected the revenue growth disclosure in a market announcement on 16 August 2021. The $1.93...
ASIC AU
What the financial advice industry needs to know about the design and distribution obligations
16 September 2021
ASIC has released additional information for advice licensees and financial advisers who are authorised representatives to help them prepare for the commencement of the design and distribution obligations (DDOs) on 5 October 2021.
The DDOs for issuers and distributors of financial products aim to assist consumers to obtain appropriate products by requiring firms to design financial products to meet the needs of consumers, and to distribute their products in a more targeted manner. The obligations apply to most financial products regulated by the Corporations Act 2001 and the Australian Securities and Investments Commissions Act 2001.
In December 2020, ASIC...
Regulator Information
Regulator Name: Australian Securities and Investments Commission
Abbreviation: ASIC
Jurisdiction: Australia
Website: https://asic.gov.au/
Regulator Name: Central Bank of Armenia
Abbreviation: CBA
Jurisdiction: Armenia
Email: [email protected]
Regulator Name: China Securities Regulatory Commission
Abbreviation: CSRC
Jurisdiction: China
Website: http://www.csrc.gov.cn/pub/csrc_en/
Email: [email protected]
Regulator Name: Financial Markets Authority
Abbreviation: FMA
Jurisdiction: New Zealand
Website: https://www.fma.govt.nz/
Email: [email protected]
Regulator Name: Monetary Authority of Singapore
Abbreviation: MAS
Jurisdiction: Singapore
Website: http://www.mas.gov.sg/
Email: [email protected]
Regulator Name: Securities and Exchange Board of India
Abbreviation: SEBI
Jurisdiction: India
Website: https://www.sebi.gov.in/
Email: [email protected]
Regulator Name: Securities and Exchange Commission
Abbreviation: FSA
Jurisdiction: Japan
Website: http://www.fsa.go.jp/en/
Email: [email protected]
Regulator Name: Securities and Exchange Commission
Abbreviation: SEC TH
Jurisdiction: Thailand
Website: https://www.sec.or.th/EN
Email: [email protected]
Regulator Name: Securities and Futures Commission
Abbreviation: SFC
Jurisdiction: Hong Kong
Website: http://www.sfc.hk/web/EN/index.html/
Email: [email protected]
Regulator Name: State Securities Commission
Abbreviation: SSC
Jurisdiction: Vietnam
Website: http://www.ssc.gov.vn/
Email: [email protected]
Recent Articles
Warning regarding the activities of an entity named Pinecone Tokenised Fund
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named Pinecone Tokenised Fund which pretends to...
Deferred tax assets require recognition test
Insurers have to take account of deferred taxes when they prepare their Solvency II balance sheet.
Remittance Advice- B G Freight Shoppe India P Ltd. in the matter of Ram Minerals and Chemicals Ltd.
This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here:
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