Australia

AML / KYC

ASIC Launches New and Improved Investor Alert List

By Editors | 08/11/2023

The list includes entities that are offering services to Australians without authorisation, as well as “impostor” entities and websites.

Fintech / Regtech

Singaporean Fintechs Expand into Australia with Project Lorikeet

By Mark Johnston | 07/11/2023

Four Singaporean fintech companies have successfully expanded into the Australian market through a joint initiative by SFA and Austrade.

AFCA Consults on Approach to Complaints Involving Advisers, MIS

By Sanday Chongo Kabange | 07/11/2023

The consultation sets out how AFCA will determine compensation for investors affected by managed investment schemes that fail or become insolvent.

Market Infrastructure

RBNZ Consults on New Policy for Branches of Overseas Banks

By Sanday Chongo Kabange | 07/11/2023

This is the RBNZ’s third consultation regarding its planned new policy for branches of overseas banks.

Enforcement

ASIC Files First Lawsuit for Non-compliance With IDR Regime

By Sanday Chongo Kabange | 07/11/2023

ASIC says Telstra Super did not respond to more than 100 complaints within the 45 days required under the new internal dispute resolution regime.

AML / KYC

AUSTRAC Explains AML/CTF Considerations of Data Breaches

By Sanday Chongo Kabange | 05/11/2023

Regulated entities should review their risk assessments to ensure they reflect the increased ML/TF risks that could arise from a data breach.

AML / KYC

ASIC Shuts Off Access to 2,500 Scam and Phishing Websites

By Sanday Chongo Kabange | 03/11/2023

ASIC has a new website takedown service to remove or limit access to fraudulent and malicious websites on the internet.

ESG / Sustainability

Australia Consults on New Sustainable Finance Strategy

By Sanday Chongo Kabange | 03/11/2023

The strategy includes plans to develop a fund-labelling regime for sustainable investment products and explore nature-related disclosures.

AML / KYC

AUSTRAC Establishes Operational Response To Israel-Gaza Conflict

By Sanday Chongo Kabange | 02/11/2023

AUSTRAC advises reporting entities to report any suspicious transactions they identify as part of the “important role” they play in stopping financial crime.