Enforcement

APRA Removes NM Super’s Additional Licence Conditions

06/08/2024

The additional licence conditions were imposed by APRA in 2019 over governance and risk management concerns.

Market Infrastructure

Australia, Vietnam to Cooperate on Capital Market Development

05/08/2024

The MoU between ASIC and Vietnam’s SSC establishes a formal information-sharing mechanism between the two regulators.

ESG / Sustainability

Australian Court Orders Mercer to Pay A$11.3mn for Greenwashing

05/08/2024

The case against Mercer Superannuation was ASIC’s first greenwashing action brought before the Federal Court.

ASIC Extends Licensing Relief for Foreign FIs to March 2025

02/08/2024

The relief is extended ahead of a new licensing exemption regime for FFSPs due to commence in Australia on 1 April 2025.

Market Infrastructure

Hong Kong IA to Start Charging Fees from September

02/08/2024

The Insurance Authority has not charged licensing and related fees since it assumed supervisory responsibilities in 2019.

Market Infrastructure

HKMA Sets Expectations for CRA’s Exit from ‘Credit Data Smart’

01/08/2024

Credit reference agency Nova Credit Limited has decided to cease operations and exit the new credit reference platform known as Credit Data Smart.

AML / KYC

ACCC to Create 2nd NASC Fusion Cell to Target Job Scams

01/08/2024

The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.

Australia’s New Code for Tax Practitioners Takes Effect

01/08/2024

Tax practitioners will have until January or July 2025 to come into compliance, depending on their firm size.

ASIC Calls on Credit Card Lenders to Improve Consumer Outcomes

01/08/2024

ASIC said some credit card providers are failing to identify consumers at risk of financial hardship and communicate what help may be available.