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Government releases draft legislation on APRA-ASIC cooperation

The Morrison government has released for consultation draft legislation that will oblige ASIC and APRA to co-operate with each other, following a royal commission recommendation.

Government releases draft legislation on APRA-ASIC cooperation
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  • Shared by Accountants Daily
  • January 10, 2020
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The draft legislation obliges the two financial regulators to share information to the maximum extent practicable and notify the other whenever it forms the belief that a breach of the law for which the other regulator has enforcement responsibility has occurred.

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