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.

Enforcement

PayPal Used Unfair Contract Term, Australian Court Rules

10/07/2024

The Federal Court ruled that PayPal’s standard form contracts with small business customers contained an unfair contract term.

Crypto / Digital Assets

Philippine Crypto Firm Launches First Peso Stablecoin

09/07/2024

Coins.ph has launched its Peso-backed stablecoin to enhance efficiency and reduce costs of transactions and payments.

Enforcement

HK Financial Consultant Pleads Guilty in ICAC Fraud Case

09/07/2024

The consultant pleaded guilty in an investment fraud case that also involves three former StanChart relationship managers.

Capital / Liquidity

Hong Kong Passes Bill to Raise Depositor Protection Limit

09/07/2024

The bill will raise the protection limit from the current HKD 500,000 to HKD 800,000, effective on 1 October 2024.

Fintech / Regtech

SFC to Introduce New Investment Product Authorisation Platform

09/07/2024

The new e-IP system will allow users to digitally submit new product applications and post-authorisation or registration submissions.