Market Infrastructure

SFC to Implement New Paperless Securities Regime by End 2025

17/07/2024

The SFC aims to implement the new regime towards the end of 2025, but give companies until end-2030 to transition.

Market Infrastructure

LegCo Progresses Work to Waive REIT Trading Stamp Duty

17/07/2024

Legislative proposals will be introduced this year to waive stamp duty for REIT transactions and options market-making.

Enforcement

APRA Orders Superannuation Trustee to Address Data Issues

17/07/2024

APRA requires Fiducian Portfolio Services to fix issues related to the accuracy and completeness of data submitted for the superannuation performance test.

Enforcement

Australia Convicts Ex-Crypto Promoter for Unlicensed Financial Advice

16/07/2024

John Bigatton was convicted for providing unlicensed financial advice when he promoted BitConnect in seminars and on social media.

Crypto / Digital Assets

Hong Kong to Release Stablecoin Consultation Results “Soon”

16/07/2024

The FSTB said it will “soon” release the results of a 2023 consultation on the proposed regulatory regime for fiat-referenced stablecoins.

Enforcement

ASIC Intervenes to Secure Fee Refunds for Bank Customers

16/07/2024

ANZ, Bendigo and Adelaide Bank, CBA and Westpac will refund over A$28mn to low-income customers who were charged inappropriately high fees.

Market Infrastructure

FAR Guidance Finalised for Insurance, Superannuation Industries

12/07/2024

ASIC and APRA have completed the total package of guidance materials for the Financial Accountability Regime.

Australia AGD Moves to Reform Bankruptcy Law

12/07/2024

Attorney-General Mark Dreyfus said the amendments would ensure a fairer outcome for debtors in the personal insolvency system.

AML / KYC

Australia Issues Warning Against Money Recovery Scams

10/07/2024

The National Anti-Scam Centre says ongoing scam losses highlight the need to introduce mandatory industry codes as soon as possible.