The regulator is urging companies to start preparing for new climate requirements.
Despite the pragmatic approach, it emphasizes that proactive preparation is crucial.
The
Australian Securities and Investments Commission (ASIC) has advised locally operated
and authorized companies to prepare for the impending introduction
of a mandatory climate disclosure regime.
In a
keynote speech at the Deakin Law School International Sustainability Reporting
Forum, Joe Longo, the Chairman of ASIC, emphasized that entities should begin
putting systems, processes and governance practices in place to meet the new
climate reporting requirements.
ASIC Urges Firms to
Prepare for Mandatory Climate Disclosure Regime
Over 6,000
entities, including those holding Australian Financial Services (AFS) licenses,
will be required to report under the new mandatory disclosure framework within
the next few years. The regime will be implemented using a phased approach
starting from the 1 July 2024.
Joe Longo, the Chairman of ASIC
“As I’ve
said before, the growing interest in environmental, social, and governance(ESG) issues is driving the biggest
changes to financial reporting and disclosure standards in a generation,”
commented Longo.
ASIC's
Chairman acknowledged industry concerns about the potential complexity of the
new reporting requirements. He assured that ASIC will take a pragmatic approach to supervision and enforcement as with any new regulatory regime. The
regulator plans to develop and issue guidance to help entities meet their new
obligations.
“This is a
transformational issue for global markets, and we need to be ready to meet that
change at every step of its development. To do that, we must maintain high
standards of governance and disclosure,” Longo added.
ASIC will
also collaborate with the government and other Council of Financial Regulators
agencies on supporting implementation, including initiatives to assist entities
in meeting the new requirements, such as addressing data challenges.
While there
will be costs for entities to report, Longo highlighted that they will also
benefit from greater visibility of physical and transitional climate risks and
opportunities across their value chains and the entire economy. This will
support companies, including AFS licensees, to manage their climate-related
risks and opportunities over the short, medium and long term.
ASIC's Chairman also emphasized the importance of considering both the benefits and
challenges of the reforms. Compliance with the new requirements is a legal obligation and makes good business sense in light of Australia's
commitment to net zero emissions by 2050 and the Paris Agreement goals.
“The
Australian Government has legislated Australia's commitment to be net zero by
2050 and to reduce emissions by 43% below 2005 levels by 2030,” Longo added.
Preparing for the New
Regime
Longo urged
entities not to wait until the legislation passes to start preparing. ASIC
considered that those already reporting voluntarily under the Task Force on
Climate-Related Financial Disclosures (TCFD) framework will be well-placed to
meet the new mandatory requirements based on the TCFD's four pillars.
The
regulator has encouraged licensees to develop the necessary organizational and governance structures to support future reporting requirements. This
includes engaging with the International Sustainability Standards Board's
climate-related disclosure standards to assess capabilities and data
requirements.
According
to the report by ASIC in August 2023 called “Promises, Pathways &
Performance” regarding climate change disclosure in Australian companies,
the finance sector was already well positioned for the changes in 2022.
Most of the
surveyed companies have implemented or are in the process of implementing the
TCFD framework.
In addition
to climate, ASIC is monitoring developments around other sustainability topics
like nature and biodiversity. The regulator advised entities to ensure any
systems and processes adopted for climate disclosures are sufficiently agile to
incorporate additional sustainability topics in the future.
Source: ASIC
"While it’s
too early to discuss enforcement strategy, that should not be taken to mean it’s too early to prepare,” ASIC's Chairman explained.
Implications for AFS
Licensees
Introducing a mandatory climate disclosure regime has significant
implications for AFS licensees. As ASIC-regulated entities, they will need to comply with the new reporting requirements in accordance with the phased
implementation timeline based on their size and greenhouse gas emissions.
AFS
licensees should heed ASIC's advice to start preparing early by:
assessing
their readiness to report under the TCFD framework,
putting in
place systems, processes and governance practices to meet the new obligations,
engaging
with the climate disclosure standards being developed in Australia and
internationally, and
ensuring
any systems implemented are flexible to accommodate future sustainability
reporting requirements.
Proactive
preparation will enable AFS licensees to meet their compliance obligations,
avoid greenwashing, and realize the benefits of enhanced climate risk
management and opportunity identification. As Longo concluded, entities
"need to start preparing for the future, now."
The
Australian Securities and Investments Commission (ASIC) has advised locally operated
and authorized companies to prepare for the impending introduction
of a mandatory climate disclosure regime.
In a
keynote speech at the Deakin Law School International Sustainability Reporting
Forum, Joe Longo, the Chairman of ASIC, emphasized that entities should begin
putting systems, processes and governance practices in place to meet the new
climate reporting requirements.
ASIC Urges Firms to
Prepare for Mandatory Climate Disclosure Regime
Over 6,000
entities, including those holding Australian Financial Services (AFS) licenses,
will be required to report under the new mandatory disclosure framework within
the next few years. The regime will be implemented using a phased approach
starting from the 1 July 2024.
Joe Longo, the Chairman of ASIC
“As I’ve
said before, the growing interest in environmental, social, and governance(ESG) issues is driving the biggest
changes to financial reporting and disclosure standards in a generation,”
commented Longo.
ASIC's
Chairman acknowledged industry concerns about the potential complexity of the
new reporting requirements. He assured that ASIC will take a pragmatic approach to supervision and enforcement as with any new regulatory regime. The
regulator plans to develop and issue guidance to help entities meet their new
obligations.
“This is a
transformational issue for global markets, and we need to be ready to meet that
change at every step of its development. To do that, we must maintain high
standards of governance and disclosure,” Longo added.
ASIC will
also collaborate with the government and other Council of Financial Regulators
agencies on supporting implementation, including initiatives to assist entities
in meeting the new requirements, such as addressing data challenges.
While there
will be costs for entities to report, Longo highlighted that they will also
benefit from greater visibility of physical and transitional climate risks and
opportunities across their value chains and the entire economy. This will
support companies, including AFS licensees, to manage their climate-related
risks and opportunities over the short, medium and long term.
ASIC's Chairman also emphasized the importance of considering both the benefits and
challenges of the reforms. Compliance with the new requirements is a legal obligation and makes good business sense in light of Australia's
commitment to net zero emissions by 2050 and the Paris Agreement goals.
“The
Australian Government has legislated Australia's commitment to be net zero by
2050 and to reduce emissions by 43% below 2005 levels by 2030,” Longo added.
Preparing for the New
Regime
Longo urged
entities not to wait until the legislation passes to start preparing. ASIC
considered that those already reporting voluntarily under the Task Force on
Climate-Related Financial Disclosures (TCFD) framework will be well-placed to
meet the new mandatory requirements based on the TCFD's four pillars.
The
regulator has encouraged licensees to develop the necessary organizational and governance structures to support future reporting requirements. This
includes engaging with the International Sustainability Standards Board's
climate-related disclosure standards to assess capabilities and data
requirements.
According
to the report by ASIC in August 2023 called “Promises, Pathways &
Performance” regarding climate change disclosure in Australian companies,
the finance sector was already well positioned for the changes in 2022.
Most of the
surveyed companies have implemented or are in the process of implementing the
TCFD framework.
In addition
to climate, ASIC is monitoring developments around other sustainability topics
like nature and biodiversity. The regulator advised entities to ensure any
systems and processes adopted for climate disclosures are sufficiently agile to
incorporate additional sustainability topics in the future.
Source: ASIC
"While it’s
too early to discuss enforcement strategy, that should not be taken to mean it’s too early to prepare,” ASIC's Chairman explained.
Implications for AFS
Licensees
Introducing a mandatory climate disclosure regime has significant
implications for AFS licensees. As ASIC-regulated entities, they will need to comply with the new reporting requirements in accordance with the phased
implementation timeline based on their size and greenhouse gas emissions.
AFS
licensees should heed ASIC's advice to start preparing early by:
assessing
their readiness to report under the TCFD framework,
putting in
place systems, processes and governance practices to meet the new obligations,
engaging
with the climate disclosure standards being developed in Australia and
internationally, and
ensuring
any systems implemented are flexible to accommodate future sustainability
reporting requirements.
Proactive
preparation will enable AFS licensees to meet their compliance obligations,
avoid greenwashing, and realize the benefits of enhanced climate risk
management and opportunity identification. As Longo concluded, entities
"need to start preparing for the future, now."
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Polymarket Rolls Out U.S. App After CFTC Green Light, Starting With Sports Events
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official