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Gadens Regulatory Recap – 31 October 2023

The Gadens Regulatory Recap has highlighted several actions from financial and legislative regulators in Australia. These include ASIC breach reporting amendments which will soften rules on reporting certain breaches and extend reporting deadlines from 30 days to 90 days. The ASIC has also identified issues with financial reporting disclosures, updated guidance on insolvent trading, and launched a MOU to increase information sharing among insurance supervisors. APRA and ASIC have also released discussion papers on insurance data transformation and published annual reports that outline their recent activities.

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