Enforcement

FMA Censures DeVere for FAP Licence Breaches

05/07/2024

The FMA censured deVere for failing to ensure its clients understood the financial advice offered to them.

Market Infrastructure

BSP Ramps Up Financial Inclusion Efforts

05/07/2024

The BSP will explore open finance use cases to enhance financial inclusion efforts and get more citizens into the formal financial system.

Market Infrastructure

ASIC Explores AI for Insider Trading Surveillance

04/07/2024

The Australian regulator is exploring AI and machine learning for potential insider trading surveillance and detection.

ASIC Directs Licensees To Correct Advisor Records on FAR

04/07/2024

ASIC has directed AFS licensees to immediately correct records on the Financial Advisers Register or face enforcement action.

Market Infrastructure

APRA Updates Guidance on Strategic Planning for Super Funds

04/07/2024

The updated guidance for super funds will apply from 1 July 2025 and sets clear expectations for trustees regarding expenditure.

Enforcement

Korea Imposes Largest Ever Short-Selling Fine on Credit Suisse

04/07/2024

The SFC has imposed a $19.5 million combined fine on Credit Suisse and its Singapore affiliate for naked short sale activities.

Market Infrastructure

HK Presses Ahead with New Company Re-domiciliation Regime

04/07/2024

The FSTB is drafting legislation that will make it easier for foreign companies to re-domicile to Hong Kong.

Market Infrastructure

APRA, ASIC Find Gaps in Super Trustees’ Retirement Strategies

04/07/2024

ASIC and APRA have urged super trustees to strengthen oversight of retirement strategy implementation after a survey found gaps.

Enforcement

Australia: ANZ Sanctioned for Charging Deceased Customers

03/07/2024

The BCCC sanctioned ANZ for breaching its obligations under the Banking Code of Practice in relation to deceased customers.