Australia

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    Conduct, Culture & Accountability

    ASIC Intervenes to Secure Fee Refunds for Bank Customers

    By Sanday Chongo Kabange | 16/07/2024

    ANZ, Bendigo and Adelaide Bank, CBA and Westpac will refund over A$28mn to low-income customers who were charged inappropriately high fees.

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    Anti-Money Laundering

    AUSTRAC to Deliver New Reporting Platform in “Coming Months”

    By Editors | 15/07/2024

    AUSTRAC said in 2021 that it would be replacing its reporting system. The final stage of features will be delivered in the “coming months”.

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    Conduct, Culture & Accountability

    NZ Aligns Rules Across Dispute Resolution Schemes

    By Editors | 14/07/2024

    The maximum compensation limit is being aligned at NZ$500,000 across four financial dispute resolution schemes.

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    Market Abuse

    ANZ Under Scrutiny for Misreported Bond Trading Data

    By Editors | 14/07/2024

    ANZ reportedly overstated the value of government bonds it traded and amplified its ranking against peer banks.

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    Conduct, Culture & Accountability

    FAR Guidance Finalised for Insurance, Superannuation Industries

    By Sanday Chongo Kabange | 12/07/2024

    ASIC and APRA have completed the total package of guidance materials for the Financial Accountability Regime.

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    Emerging Prudential Risks

    Australia AGD Moves to Reform Bankruptcy Law

    By Sanday Chongo Kabange | 12/07/2024

    Attorney-General Mark Dreyfus said the amendments would ensure a fairer outcome for debtors in the personal insolvency system.

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    PEPs & Sanctions

    New Zealand Announces New Russia-related Sanctions

    By Editors | 12/07/2024

    The sanctions target Russian weapons manufacturers, as well as the supply of Iranian drones and North Korean weapons to Russia.

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    Cryptocurrency

    ASX Commences Trading in Second Spot Bitcoin ETF

    By Editors | 12/07/2024

    The ETF is managed by DigitalX Limited in partnership with K2 Asset Management and Canadian firm 3iQ.

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    Payments & Settlements

    Australia, US to Help Boost Correspondent Banking in Pacific

    By Manesh Samtani | 11/07/2024

    Australia pledged A$6.3mn in funding to help counter the decline in correspondent banking services in the Pacific.

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    Fraud, Scams & Cybercrime

    Australia Issues Warning Against Money Recovery Scams

    By Sanday Chongo Kabange | 10/07/2024

    The National Anti-Scam Centre says ongoing scam losses highlight the need to introduce mandatory industry codes as soon as possible.

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