July 7, 2020 / 2:58 AM / a month ago

BRIEF-Australia's ASIC Issues Temporary No-Action Position For Australian Financial Services Licensees

July 7 (Reuters) - Australian Securities & Investments Commission:

* ISSUED TEMPORARY NO-ACTION POSITION FOR AUSTRALIAN FINANCIAL SERVICES LICENSEES

* NO-ACTION POSITION WILL APPLY UNTIL FURTHER NOTICE

* ISSUED NO-ACTION POSITION FOR POTENTIAL BREACHES OF FINANCIAL RESOURCE REQUIREMENTS DUE TO CHANGES TO ACCOUNTING TREATMENT OF LEASE ASSETS

* BY ISSUING NO-ACTION POSITION, ASIC WILL NOT TAKE ACTION AGAINST LICENSEES ON SOME PAST BREACHES OF FINANCIAL RESOURCE REQUIREMENTS Source: bit.ly/2ZPLiRk

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