Monday, 14 July 2014
An often stated concern of ASIC’s in enforceable undertakings, or EU, is:
“a poor compliance culture meaning that deficiencies were not identified, escalated and remedied in a timely and efficient manner”.
Thursday, 10 July 2014
Most business people, if asked to comment on the state of the EU, would provide their views on the problems facing the European economies. For those in the Australian financial services industry the question may prompt a very different answer.
Tuesday, 8 July 2014
An enforceable undertaking, or EU, is an undertaking offered to ASIC, by what we affectionately refer to as “the Pingee”, which sets out in writing certain actions that the Pingee is prepared to undertake to address ASIC’s concerns.