Australia

    image

    Enforcement

    SkyCity Adelaide Faces A$33M Penalty for Casino Tax Dispute

    By Mark Johnston | 26/02/2024

    SkyCity estimates it owes about A$13mn in back taxes dating back to 2014. Penalty interest could amount to as much as A$20mn.

    image

    Sanctions

    New Sanctions Packages Announced to Mark Ukraine War Anniversary

    By Editors | 25/02/2024

    The US, EU, Canada, Japan and Australia announced new Russia-related sanctions, including Chinese, Indian, South Korean and Thai companies among their targets.

    image

    Crypto / Digital Assets

    The Future of Securities Tokenisation and Crypto Regulation 

    By Hannah Cassidy | 22/02/2024

    With crypto currencies and assets firmly lodged in the public mind, regulators need to lay guardrails to facilitate innovation and combat misbehaviour.

    image

    ASIC Calls on Industry to Give Better Advice on Choice Super

    By Sanday Chongo Kabange | 22/02/2024

    An ASIC review found that members “persistently” invest in underperforming Choice products that “adversely” impact their retirement outcomes.

    image

    AML / KYC

    CBA Becomes First Australia-based LEI Validation Agent

    By Editors | 21/02/2024

    CBA can now obtain and maintain LEIs for clients leveraging its ‘business-as-usual’ KYC and onboarding processes.

    image

    AML / KYC

    Australia to “Shortly” Issue New Consultation on Tranche 2 AML Reforms

    By Manesh Samtani | 20/02/2024

    Officials said feedback to last year’s consultation was “very supportive” and the upcoming consultation will be more detailed.

    image

    Australian Competition Tribunal Approves ANZ-Suncorp Merger

    By Sanday Chongo Kabange | 20/02/2024

    ANZ and Suncorp welcomed the decision, while acknowledging that additional approvals are still needed to complete the deal.

    image

    Enforcement

    CBA Fined A$10.3m for Underpaying Employees

    By Editors | 20/02/2024

    Across Australia, some 7,400 CBA and CommSec employees were underpaid A$16mn from 2015 to 2021.

    image

    Capital / Liquidity

    APRA Consults Again on Super Fund Financial Resources Rules

    By Sanday Chongo Kabange | 19/02/2024

    APRA’s new consultation proposes a “simpler approach” to its operational risk financial requirement (ORFR).

    image

    AML / KYC

    SkyCity Facing NZ Court Proceedings for Alleged AML Failures

    By Sanday Chongo Kabange | 19/02/2024

    The DIA alleges that SkyCity did not meet various obligations required under the AML/CFT Act.

    JOIN OUR NEWSLETTER

    An exclusive weekly selection of top stories from the Regulation Asia editorial team.