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In brief. On 2 June 2022, ASIC published the updated ePayments Code (Code) which it states will strengthen and clarify a number of existing protections for consumers relating to various forms of.
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Cassandra Siciliano | July 18, 2022 An updated ePayments Code (the Code) was published by the Australian Securities & Investments Commission (ASIC) on 2 June 2022. The transition period for compliance with the updated version of the Code commences the day of publication and ends 2 June 2023.
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March 28, 2022 ASIC has released a report on updates to the ePayments Code ('the Code') after consultation with a number of stakeholders last year, including the banking industry, industry associations, consumer and small business representatives, fintechs, government agencies and regulators. Key points
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The ePayments Code was released on 20 September 2011 (see media release 11-205MR) and last updated on 2 June 2022 (see media release 22-125MR ). What is the ePayments Code? Who is bound by the Code? What does it mean for consumers? Exemptions and declarations under the Code Instruments issued under the ePayments Code Monitoring and surveillance
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This Code is effective from 2 June 2022. Previous versions: › ePayments Code, issued 20 September 2011 and amended October 2011. Effective 1 July 2012 and amended 29 March 2016. › EFT Code, effective 1 April 2001 and amended 18 March 2002, 1 November 2008 and 1 July 2012. Superseded by ePayments Code on 20 March 2013. Document location The
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The ePayments Code ( Code) is a voluntary code of practice that regulates electronic payments including automatic teller machine ( ATM) transactions, online payments, EFTPOS transactions, credit/debit card transactions and internet and mobile banking. ASIC is responsible for both administering and reviewing the Code.
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REP 718 follows the release in May 2021 of Consultation Paper 341 Review of the ePayments Code: Further consultation (), which sought feedback on proposed updates to the Code.ASIC's review, which will be reflected in an updated Code published later in 2022, is intended to provide clarity (and remove ambiguity) in specific areas, as well as enhancements to some of the existing protections.
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Published 7 March 2022 ASIC has today published a report, Report 718: Response to submissions on CP 341 Review of the ePayments Code: Further consultation (REP 718), on updates to the ePayments Code (the Code).
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24 March 2022 Ms Jennifer Lyons Financial Services and Wealth Australian Securities and Investment Commission Level 7, 120 Collins Street Melbourne VIC 3000 via email: [email protected] Dear Ms Lyons Review of the ePayments code. Thank you for the opportunity to review the wording of the ePayments code (the Code) in its draft
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Mar 8, 2022 - 2.44pm.. The ePayments code creates licensing, conduct and disclosure obligations for those conducting electronic payments, including via credit and debit card transactions, and.
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ePayments Code: Further consultation . March 2022 . About this report This report highlights the key issues that arose out of the submissions received on Consultation Paper 341 Review of the ePayments Code: Further consultation (CP 341) and details our responses to those issues.
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ASIC says it intends to publish an updated ePayments Code in April 2022. A transition period of 12 months will apply. Subscription to the Code is currently voluntary, but the Government has accepted several recommendations to mandate the Code. Other areas ASIC's report also contains its final response to feedback in the following areas:
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Australia June 24 2022. ASIC has made changes to the ePayments Code which subscribers must comply with by 2 June 2023. The Code is still voluntary and does not extend to small business, but more.
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On 2 June 2022, ASIC published the updated ePayments Code (Code) which it states will strengthen and clarify a number of existing protections for consumers relating to various forms of electronic payments.
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Published 2 June 2022 ASIC has today published the updated ePayments Code (the Code) to provide enhancements to and clarity on a number of existing protections for consumers. In addition to extending the Code to cover payments made using the New Payments Platform, ASIC has also updated the following areas of the Code: