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Australia
ESG / Sustainability
ASIC Has Greenwashing “In Its Sights”, Says Chair Joe Longo
By Nithya Subramanian | 06/05/2024
Joe Longo said ASIC will take action when there’s an “unreasonable lack of diligence” or “carelessness” by regulated entities that “should know better”.
AML / KYC
New Zealand Regulators Issue Updated CDD Guidelines
By Editors | 03/05/2024
Updated guidelines on beneficial ownership, company CDD, and enhanced CDD. New guideline on CDD for limited partnerships.
AML / KYC
Australia: Scam Losses Fall for the First Time in Six Years
By Manesh Samtani | 03/05/2024
In its latest report on annual scam activity, the ACCC highlighted government and industry initiatives that led to lower scam losses in 2023.
Enforcement
Australian Court Rules in ASIC’s Favour in ‘Qoin Wallet’ Case
By Editors | 03/05/2024
The ruling is the first court outcome against a non-cash payment facility involving crypto, ASIC’s Joe Longo noted.
AML / KYC
Australia Consults on Anti-Foreign Bribery Guidance
By Editors | 03/05/2024
The consultation follows the passage of legislation in February to introduce the new “failure to prevent” foreign bribery offence.
Market Infrastructure
Australia Publishes Details on Reforms to Foreign Investment Regime
By Sanday Chongo Kabange | 03/05/2024
Greater scrutiny will apply to foreign investments in sensitive sectors. Passive investors with a strong track record would receive less scrutiny.
AML / KYC
NZ Banks Set to Start ‘Confirmation of Payee’ Implementation
By Sanday Chongo Kabange | 03/05/2024
NZBA has identified a preferred provider for the service and will soon start the technical build for the payments system.
ESG / Sustainability
New Zealand XRB Establishes Sustainability Reporting Board
By Editors | 02/05/2024
The new technical committee will advise the XRB on New Zealand’s Climate Standards and the development of a voluntary, non-financial reporting framework.
AML / KYC
Australia Opens 2nd Consultation on ‘Tranche 2’ AML Reforms
By Manesh Samtani | 02/05/2024
The proposed reforms will extend the AML/CTF regime to cover Tranche 2 entities and a broader range of digital currency-related services.
Enforcement
QLD Police Charge Four for ‘Boiler Room’ Investment Fraud
By Sanday Chongo Kabange | 01/05/2024
Approximately 30 people were defrauded of over A$1.5 million between 2018 and 2021. Four people were arrested and charged.
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