ASIC today released a report into custodial and depository services in Australia following a review of the industry, identifying a number of key risks to the safety of client assets and recommending some matters of ‘good practice’ that custodians and responsible entities may need to consider.

RAMS Financial Group Pty Limited (RAMS) has changed the advertising for its current RAMS Saver account campaign following ASIC concerns that ads promoting the online savings account were potentially misleading or likely to mislead.

ASIC has met its commitment in launching a website that publishes notices on insolvency and other matters.

ASIC and New Zealand’s Financial Markets Authority (FMA) have announced mutual recognition arrangements for Australian and New Zealand financial advisers.

ASIC has today released updated policy guidance about its approach to facilitating cross-border financial regulation to assist foreign providers of financial facilities, services and products that wish to operate in Australia.

ASIC has today released a revised version of Regulatory Guide 98 Licensing: Administrative action against financial services providers to assist participants in the financial services industry understand when and how ASIC may take administrative action such as a banning action.

Money3 Corporation Limited (Money3) has agreed to change its car finance advertising following concerns raised by ASIC.

Avant Insurance Limited (Avant) has changed the advertising for its Avant Practitioner Indemnity Insurance Policy, in response to ASIC concerns the ads were potentially misleading.

Resi Mortgage Corporation Pty Ltd (RESI) has agreed to change its online home loan advertising following ASIC concerns the ads failed to adequately disclose the comparison rate on its home loans.

A second defendant in ASIC's civil penalty action against former officers of AWB Limited (AWB) has acknowledged breaching his duties as an officer.