Compliance & Ethics

The AMF has released the results of its thematic SPOT inspections of five asset management companies on telephone conversation recording, and identified good and poor practices. Telephone ordering is declining, but the AMF warns that its marginal use can increase non-compliance risk because controls are often weaker. Compliance teams should benchmark their recording policies, controls, and training against these findings.

ASIC has published Form 509G, the notice an administrator must use when creditors vote to terminate a deed of company arrangement (DOCA) under s450D of the Corporations Act 2001. The form is an administrative template rather than a new rule, but it documents how a DOCA termination is recorded on the public register and how creditors are notified. Compliance teams with exposure to Australian counterparties in external administration should understand the process and its implications.

ASIC has remade three legislative instruments and extended a fourth for five years, preserving existing relief for exchange-traded derivatives disclosure, trans-Tasman securities settlement, foreign securities transfers, and securities lending. The relief itself is unchanged, but the instruments have new numbers and some wording and reference updates. Compliance teams should confirm that policies and legal references cite the correct instruments.

ASIC Gazette A37/26 (September 15, 2026) is a routine notice that proposes deregistering one managed investment scheme, proposes striking off five foreign companies, confirms the strike-off of three others, and announces five company type conversions. Compliance teams with exposure to any named entity should verify counterparty records and update registers before the effective dates.

The Norway Financial Supervisory Authority (Finanstilsynet) has published a warning about aureoncorevix-fr.com, a website originally flagged by France's Autorité des Marchés Financiers (AMF) on its crypto-currency blacklist. Compliance teams should treat the domain as a high-risk, likely fraudulent crypto platform and update screening controls and customer-protection measures accordingly.

When the Securities and Exchange Commission settled with SG Americas Securities in August 2023, one paragraph of the order concerned a document that did not yet exist. The firm had agreed to hire a consultant to test its repairs and to send the written results to the Commission’s staff. The order said the report was intended to remain nonpublic, with four exceptions, including a court order, the parties’ written agreement, a Commission determination that disclosure would further its duties, or a legal requirement. It gave the reasons. The report would likely contain confidential commercial information, and publication could discourage cooperation or impede government investigations.

Apple and Amazon were fined a combined €194 million by Spain's competition regulator in July 2023 and ordered to remove restrictions on the sale and advertising of Apple products. Nearly two years passed before the companies removed two sets of the offending clauses. That delay has brought both companies back before the National Commission on Markets and Competition (CNMC), which announced on November 3 that it had initiated new sanction proceedings over their failure to comply with the original order.