Fraud, Scams & Cybercrime

Australia Proposes Bill to Establish Scams Prevention Framework

16/09/2024

The framework creates obligations for banks, telcos and tech giants to prevent, detect, report, disrupt, and respond to scams.

Market Abuse

HKEX Offers New Guidance on Preventing Self-Matched Trades

12/09/2024

The guidance aims to help firms mitigate the risk of self-trades by different trading units that might be susceptible to inappropriate trading behaviour.

Conduct, Culture & Accountability

ASIC Directs Product Issuers to Improve DDO Compliance

11/09/2024

ASIC’s Alan Kirkland called on issuers to ensure that their product design and distribution practices are “up to scratch”.

Structural Regulation

ACCC Updates Guidelines on Interim Authorisation

11/09/2024

The updated guidelines seek to clarify expectations around how the ACCC makes decisions on granting interim authorisation.

Anti-Money Laundering

Australia Introduces AML/CTF Reform Bill to Parliament

11/09/2024

The amendment bill will bring tranche 2 entities into scope and modernise the regulation of virtual assets and payments tech.

Sustainable Finance

Australia Releases Interim Report on Taxonomy Development

11/09/2024

The report sets out the progress made towards the development of Australia’s sustainable finance taxonomy.

AI Risk & Governance

New Zealand FIs Taking ‘Cautious Approach’ to AI Adoption – FMA

10/09/2024

The FMA conducted research to better understand how regulated entities are exploring the adoption of AI, to help shape an appropriate regulatory framework.

Anti-Bribery & Corruption

Australia’s New Anti-Foreign Bribery Law Comes into Force

10/09/2024

Under the new law, companies will be held directly liable for failure to prevent foreign bribery by employees, external contractors, agents and subsidiaries.

Anti-Money Laundering

HKMA Issues Guidance on Using AI to Enhance AML Monitoring

10/09/2024

Banks will have to assess the feasibility of adopting AI in their ML/TF monitoring systems and then formulate and submit an implementation plan to HKMA by end March 2025.