Enforcement

ASIC Files First Lawsuit for Non-compliance With IDR Regime

07/11/2023

ASIC says Telstra Super did not respond to more than 100 complaints within the 45 days required under the new internal dispute resolution regime.

AML / KYC

AUSTRAC Explains AML/CTF Considerations of Data Breaches

05/11/2023

Regulated entities should review their risk assessments to ensure they reflect the increased ML/TF risks that could arise from a data breach.

AML / KYC

ASIC Shuts Off Access to 2,500 Scam and Phishing Websites

03/11/2023

ASIC has a new website takedown service to remove or limit access to fraudulent and malicious websites on the internet.

ESG / Sustainability

Australia Consults on New Sustainable Finance Strategy

03/11/2023

The strategy includes plans to develop a fund-labelling regime for sustainable investment products and explore nature-related disclosures.

AML / KYC

AUSTRAC Establishes Operational Response To Israel-Gaza Conflict

02/11/2023

AUSTRAC advises reporting entities to report any suspicious transactions they identify as part of the “important role” they play in stopping financial crime.

Enforcement

APRA Applies A$20m Capital Charge to RAC Insurance

01/11/2023

APRA said its review of RAC Insurance revealed “significant weaknesses” in its outsourcing controls, conflict management and board decision making.

ESG / Sustainability

HK SFC, ICMA Collaborate on Voluntary ESG Code of Conduct

01/11/2023

The code of conduct will improve the reliability of ESG information used by licensed corporations in their investment decisions.

Enforcement

FSS Korea Asks Prosecutors to Charge Kakao for Market Manipulation

01/11/2023

The FSS has sent recommendations to prosecutors asking them to charge Kakao, Kakao Entertainment and several top executives.

Fintech / Regtech

White House Issues Executive Order to Regulate AI

31/10/2023

The executive order sets out new standards for AI safety and requirements for developers and users of AI systems.