Australia

Anti-Bribery & Corruption

Australia Issues New Anti-Foreign Bribery Guidance

By Sanday Chongo Kabange | 29/08/2024

The guidance sets out six elements that should be included by corporations in their anti-bribery compliance programmes.

Conduct, Culture & Accountability

New Zealand Court Fines TSB Bank for Overcharging Customers

By Sanday Chongo Kabange | 29/08/2024

The Commerce Commission took legal action against TSB Bank for overcharging 48,000 customers between 2015 and 2021.

Structural Regulation

ASIC Revises Trade Reporting Rules to Adopt February Proposals

By Manesh Samtani | 29/08/2024

ASIC will adopt the ‘nexus’ test to determine the scope of foreign entity reporting and remove alternative reporting.

Fraud, Scams & Cybercrime

Austal and Australian Parent Settle US Fraud Charges for $24m

By Editors | 28/08/2024

Austal manipulated its financial results to avoid falling short of analyst expectations and mislead shareholders, the SEC and DOJ said.

Emerging Prudential Risks

APRA Sets Priorities for Ensuring Financial System Resilience

By Sanday Chongo Kabange | 28/08/2024

APRA’s new corporate plan aims to ensure the financial and operational resilience of regulated entities, while also responding to new risks.

Structural Regulation

Australia Releases Terms for Banking Competition Review

By Editors | 28/08/2024

The review will examine how regulators can enable more proportionate regulation to improve the competitiveness of smaller banks.

Climate Risk

New Zealand to Reduce Supply of Carbon Offset Units

By Ranamita Chakraborty | 28/08/2024

Oversupply has depressed carbon prices, causing auction failures and jeopardising climate targets and emissions budgets.

Fraud, Scams & Cybercrime

Westpac to Expand Anti-Scam Feature to Institutional Clients

By Sanday Chongo Kabange | 28/08/2024

Westpac’s institutional and government clients will be able to run a check on payee details before making payments.

Payments & Settlements

CBA, BNY Enable Real-Time Cross-Border Payments

By Sanday Chongo Kabange | 27/08/2024

The new arrangement enables the AUD leg of inbound cross-border payments to be processed in under a minute.