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Australian financial regulator, ASIC, announced today that it is to receive major additional funding from the government. The funding will allow for further surveillance and enforcement in the areas of financial planning, responsible lending, life insurance, misconduct and breach reporting.
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ASIC has welcomed the government’s support for the introduction of an Industry Funding Model which will allow the regulator to build its technological capacity to identify and assess risks and misconduct.
According to ASIC Chairman, Greg Medcraft: “We have ... (read more)