Australia

Fintech / Regtech

RBA Sets Expectations for Enhanced Debit Card Market

By Sanday Chongo Kabange | 22/12/2023

The RBA wants all industry participants to support token portability and token synchronisation by June 2025.

AML / KYC

NZBA Issues Update on Anti-Scam Initiatives

By Editors | 21/12/2023

The first phase of the new national Anti-Scam Centre is “now live”, focusing on sharing information on money mules.

Market Infrastructure

ACCC Responds to Government’s Merger Reform Proposals

By Editors | 21/12/2023

ACCC Chair Gina-Cass-Gottlieb said the government’s proposals for merger reform aren’t sufficient and that the ACCC’s own proposal would achieve the “right balance”.

ESG / Sustainability

ASX Looks into Developing Australia’s First Carbon Exchange

By Ranamita Chakraborty | 20/12/2023

The exchange seeks to make participation in carbon markets more accessible, but its launch depends on regulatory and other approvals.

ESG / Sustainability

ASIC Fines Northern Trust for Alleged Greenwashing

By Sanday Chongo Kabange | 19/12/2023

ASIC said Northern Trust was responsible for its statements, not the third party that incorrectly applied the exclusion screen specified.

AML / KYC

Australia Appoints NEW AUSTRAC CEO for Five Year Term

By Editors | 17/12/2023

Brendan Thomas from the NSW Department of Communities and Justice will replace Nicole Rose effective 29 January 2024.

Securities / Derivatives

Australia Proposes Bill to Reform Regulatory Regime for FMI Entities

By Manesh Samtani | 17/12/2023

The RBA and ASIC will gain enhanced regulatory powers over financial markets, CS facilities, derivative trade repositories, and benchmark administrators.

ACCC Concludes Review of Retail Deposits Market

By Manesh Samtani | 15/12/2023

The ACCC found banks using “strategic pricing” for retail deposit products, which worsens outcomes for consumers.

Fintech / Regtech

RBA Sets Out Focus Areas for Upcoming Payments System Review

By Editors | 15/12/2023

The key focus areas for next year’s review are mobile wallets, BNPL services, and least-cost routing, Michele Bullock said.