Australia

Enforcement

ASIC is Targeting Misconduct in Superannuation Sector

By Sanday Chongo Kabange | 16/11/2023

ASIC says it will take strong, targeted enforcement action in relation to “member services failures in the super sector”.

Market Infrastructure

ASIC Licenses Second Derivative Trade Repository

By Editors | 16/11/2023

ASIC has granted an Australian Derivative Trade Repository licence to US-based KOR Reporting Inc.

Market Infrastructure

ASIC Consults on Further Changes to OTC Derivatives Reporting Rules

By Editors | 16/11/2023

ASIC proposes changes to some data elements and other minor amendments, informed by international developments and industry engagement.

Securities / Derivatives

NZ FMA Consults on Approach to “Fair Outcomes” Regulations

By Sanday Chongo Kabange | 16/11/2023

The FMA is consulting on seven “fair outcomes” it wants financial service providers to deliver for consumers and markets.

Market Infrastructure

Australia Proposes Legislation to Cut Red Tape from Financial Advice

By Sanday Chongo Kabange | 15/11/2023

The draft legislation responds to several recommendations of the quality of advice review released early this year.

Capital / Liquidity

APRA Proposes Changes to Liquidity Management Rules for Banks

By Sanday Chongo Kabange | 15/11/2023

Smaller banks will have to value liquid assets on a mark-to-market basis. Debt securities issued by other banks will no longer be considered eligible liquid assets.

Crypto / Digital Assets

ASIC Sheds Light on Losses Recovered for Retail Derivatives Investors

By Sanday Chongo Kabange | 13/11/2023

Seven CFD issuers and Binance Australia Derivatives paid A$17.4mn in compensation to over 2,000 retail clients since March 2021.

Market Infrastructure

ASIC Says Cyber Resilience “Must be a Top Priority”

By Sanday Chongo Kabange | 13/11/2023

ASIC’s cyber pulse survey found “significant” cyber security risk management deficiencies at listed companies and licensed entities.

Enforcement

ASIC Fines HESTA Super Fund for “Misleading” Advertising

By Editors | 13/11/2023

HESTA performance figures used in Facebook and Instagram ads and in a webinar did not specify the period the figures related to.