Securities & Markets

ASIC Launches Free Retirement Planning Tools on Moneysmart Website

ASIC has launched free retirement planning tools and resources on the Moneysmart website to help Australians plan for retirement. The Retirement Hub includes a Retirement Planner calculator, superannuation balance calculators, and Age Pension eligibility tools. Research shows 48% of Australians aged 50-66 worry they will run out of money in retirement, while only 18% have a clear retirement plan in place.

Viva Energy Reassesses Accounting Approach After ASIC Review Resulting in $25M Impairment

ASIC reviewed Viva Energy Group Limited's financial report for the year ended 31 December 2024 and raised concerns about its approach to impairment testing of convenience retail sites under AASB 136. ASIC found that Viva Energy improperly assessed some sites as a group (Shell Card cash-generating unit) rather than individually. Viva Energy revised its approach and recognised $25 million of the total $558.8 million impairment expense as attributable to this change in accounting judgement for the year ended 31 December 2025. ASIC reminded preparers that assets must be tested for impairment at individual asset level where possible.

CMF Charges Four Entities for Loan Fraud Scheme

Chile's Financial Market Commission (CMF) announced it will file charges against four entities operating loan websites for alleged fraud. The entities falsely claimed to be supervised by CMF while requesting advance payments for loans that never materialized. This enforcement action targets unauthorized lending operations and protects consumers from financial scams.

CMF Files Charges Against Three Predatory Loan Apps for Alleged Usury

Chile's Financial Market Commission (CMF) announced it will file charges against three mobile applications offering loans for alleged usury. The apps are available for download on Google Play and other websites. The CMF stated these applications were operating as predatory lenders in violation of Chilean financial regulations.

Bank of England Section 3(a)(9) No-Action Letter

The SEC Division of Corporation Finance issued a no-action letter regarding the Bank of England's bail-in resolution mechanism. The Division addressed whether exchanging Bail-In Securities for interim securities known as PROPPs, and subsequently exchanging those PROPPs for ordinary shares, constitutes an offer and sale of securities requiring registration under the Securities Act. The Division will not recommend enforcement action if firms exchange Bail-In Securities for non-transferable PROPPs and subsequently exchange those PROPPs for ordinary shares without registration, in reliance on counsel's opinion that the exemption under Section 3(a)(9) is available.

Approves NYSE Arca Rule Change for Multi-Crypto Asset Trust Options Listing

The SEC approved NYSE Arca's proposed rule change to amend Exchange Rule 5.3-O, allowing the Exchange to list and trade options on Commodity-Based Trusts that hold multiple crypto assets. Each crypto asset held by such a trust must meet existing criteria: minimum $700 million average daily market value over 12 months and underlying derivatives contract on a market with comprehensive surveillance sharing agreement. The Exchange may list these options without additional Commission approval.

Italy Raises SIS Net Asset Threshold from €25M to €50M

Consob and Banca d'Italia updated supervisory guidelines for Simple Investment Companies (SIS) effective 10 April 2026. The key change raises the maximum net asset threshold from €25 million to €50 million for managers to qualify as a SIS, aligning with the Testo Unico della Finanza (Italian Finance Act). The update reflects the sixth amendment to the Collective Asset Management Regulation published 23 March 2026 in Gazzetta Ufficiale.

SEC Final Consent Judgment Against Christopher Joseph Bongiorno for Securities Fraud and Unregistered Broker Activity

The SEC obtained a final consent judgment against Christopher Joseph Bongiorno in the Northern District of Ohio on April 7, 2026. Bongiorno was found liable for defrauding investors through cold-calling solicitations for US Lighting Group and Petroteq Energy securities between September 2015 and November 2018, receiving over $2.3 million in gross commissions and misappropriating $30,000 from two investors. The judgment permanently enjoins Bongiorno from securities violations and acting as a broker, with a five-year prohibition on soliciting investors to purchase securities.

Statement Regarding Staff No-Action Letter to Bank of England

The SEC Division of Corporation Finance issued a no-action letter to the Bank of England regarding application of Securities Act of 1933 registration requirements when the Bank exercises statutory bail-in powers over failing U.K. banks or regulated investment firms. The Division will not recommend enforcement action for securities exchanges under Section 3(a)(9) in connection with the Bank of England's bail-in mechanism. SEC Chairman Paul S. Atkins instructed the Division to prepare a rulemaking recommendation for a potential broader exemption from Securities Act registration requirements for regulatory bail-in securities.

SEC Extends Mark Durham FINRA Decision Deadline to July 8, 2026

The SEC issued an order extending by 90 days the period within which the Commission must issue its decision in the matter of Mark Kipling Durham v. FINRA. The original deadline is extended to July 8, 2026. This is a procedural administrative action that does not affect the substantive merits of the underlying FINRA disciplinary matter.