Compliance & Ethics

ASIC issued an infringement notice to Fundo Loans Pty Ltd on 11 September 2026. The notice alleges that website claims of "no credit check" loans were false or misleading, in breach of section 12DB(1)(e) of the ASIC Act, and carries an AUD $19,800 penalty. The action shows that ASIC will enforce against marketing claims that conflict with actual underwriting practices, including in the small-amount lending segment.

The HKMA raised its Base Rate by 25 basis points to 4.25%, effective immediately, after the Fed lifted the federal funds target range to 3.75-4%. This is a mechanism-driven adjustment rather than a new regulatory requirement, but it widens the HKD-USD rate differential and may increase carry trade activity and pressure on the Hong Kong dollar. Compliance teams should assess the impact on interest rate risk, customer disclosures, and pricing governance.

Japan's Financial Services Agency has ordered a respondent to pay an administrative monetary penalty of JPY $6.27 Million under Article 185-6 of the Financial Instruments and Exchange Act (FIEA) for manipulating two stocks, separate from a related Base Food Co., Ltd. matter. The decision follows a recommendation from the Securities and Exchange Surveillance Commission (SESC) and a full adjudication process. It shows that Japanese authorities actively pursue market manipulation through administrative enforcement.

SEC Chairman Paul Atkins signaled strong support for expanding U.S. equities trading to 24 hours a day. He identified the infrastructure, price-band, and market-data preparations already underway and asked for feedback on open issues such as short selling, tokenization, and issuer obligations. Compliance teams should treat this as an early signal of coming operational and supervisory changes and consider engaging in the comment process.

The Board of Appeal of the European Supervisory Authorities (ESAs) has published a signed declaration of commitment and interests from Prof. Dr. Rudiger Veil, dated June 15, 2026, under Article 59(6) of the ESA founding regulations. It is a routine governance disclosure with no new obligations for financial institutions. It does reinforce the independence safeguards behind the appeals process that firms may use to challenge ESA decisions.

ASIC's Form 5111 is the mechanism through which responsible entities of registered managed investment schemes lodge their annual compliance plan audit reports under s601HG(7) of the Corporations Act 2001. The form discloses whether the auditor issued a qualified opinion on compliance plan adherence or on the plan's adequacy. Compliance teams must meet the three-month lodgement deadline to avoid late fees and regulatory scrutiny. Note that this is a form and guide, not a new rule. The content is dated 2011 and 2018, even though the listing shows a 2026 date, so teams should confirm that no substantive change is being introduced.

ASIC has published Form 903B (version dated 15 June 2022), the prescribed application for registration as a liquidator under Schedule 2 of the Corporations Act 2001 (Insolvency Practice Schedule, s20-5). The form is not a new rule. It restates the qualification, experience, fitness and propriety, and insurance criteria that applicants must meet. Compliance and insolvency practice teams should use it to prepare complete, accurate applications, because false or misleading statements carry disciplinary and prosecution risk.