Australia’s listed companies can now run virtual-only AGM’s thanks to a change in the rules governing the meetings. The Australian Securities and Investments Commission (ASIC) announced yesterday that company Annual General Meetings have been formally approved to be conducted as virtual, online events as a result of the COVID-19 disruption.
Australian buy now, pay later provider PayRight has raised over $30 million dollars in funding as it eyes international expansion and the deployment of a custom digital platform. The vast majority of the funding has been generated in the last 12 months, led by corporate advisory firm Henslow in partnership
The Australian and Security Exchange Commission is looking into why the share prices of buy now, pay later platforms Afterpay, Zip and Flexigroup plummeted on Wednesday morning. The market volatility occured two days before a senate committee examining the buy now, pay later sector hands down its final report. According
One in six buy now, pay later users are facing financial troubles with some becoming overdrawn, have delayed bill payments or borrowed additional money, according to ASIC. These users are predominately between 18-35 years old. The first review by ASIC into the buy now, pay later industry also found consumers
The Australian Securities and Investment Commission (ASIC) has finally issued guidance to explain how “initial coin offerings” (ICOs) will be regulated. Sign up to Which-50’s Irregular Insights newsletter ICOs are a form of crowdfunding, with companies raising funds by selling tokens or cryptocurrencies to investors with promises of a social
The corporate watchdog has its eye on new business models in financial services such as marketplace lending, crowd funding, robo-advice, payments and blockchain technology, and how they fit into ASIC’s guidelines. Which-50 and ADMA are introducing a one day classroom-based digital transformation education program for senior executives lead by visiting US subject
The evolution of disruptive technologies is testing the boundaries of global markets and regulation, so understanding how they work is critical. Digital disruption is capturing the attention of everyone with an interest in the finance industry. Regulators globally are facing new challenges, which essentially come down to: how do we
Regulation in the financial services sector is not there to protect banks and other market participants from competition. It’s there to protect us from them. And now it seems ASIC has signaled it wants to encourage digital innovation — just as long as consumers are protected. It’s a point that