Australia

ESG / Sustainability

Australia to Restructure Regulatory Bodies for Financial Reporting

By Sanday Chongo Kabange | 21/11/2023

The three regulatory bodies that oversee financial reporting and set reporting standards will be combined into a single entity.

Market Infrastructure

Australia Consults on Options for Reforming Merger Rules

By Sanday Chongo Kabange | 20/11/2023

Treasurer Jim Chalmers said any changes to merger rules would be about “delivering greater benefits to the economy and to consumers, and providing certainty to business”.

Enforcement

Australia Introduces Bill to Address Tax Adviser Misconduct

By Editors | 20/11/2023

Assistant Treasurer Stephen Jones said the bill introduces the “biggest government crackdown on tax adviser misconduct in Australian history”.

Market Infrastructure

ASX Picks TATA, Accenture To Deliver CHESS Replacement

By Sanday Chongo Kabange | 20/11/2023

ASX says it selected TCS and Accenture after extensive evaluation of potential solution options and product vendors.

Australia Advances Bill to Enshrine Superannuation Objective in Law

By Editors | 19/11/2023

Treasurer Jim Chalmers said the bill will prevent government from raiding superannuation “for its own purposes” and help ensure a “dignified retirement for more Australians.”

Market Infrastructure

ASIC Consults Changes to the ABA Banking Code of Practice

By Editors | 19/11/2023

This is the first time ASIC has undertaken a public consultation before making a decision on approving the Banking Code of Practice.

AML / KYC

Pacific Islands to Bolster Sharing of Financial Intelligence

By Editors | 17/11/2023

Pacific Island FIUs met in the Cook Islands this week. It was revealed that AUSTRAC provided the Cook Islands FIU a new data analytics system.

Crypto / Digital Assets

ATO Updates Guidance on Crypto Capital Gains Tax

By Editors | 16/11/2023

Capital gains tax applies to transactions involving wrapped tokens, DeFi lending and borrowing arrangements, liquidity pools, and DeFi reward payments.

Enforcement

ASIC is Targeting Misconduct in Superannuation Sector

By Sanday Chongo Kabange | 16/11/2023

ASIC says it will take strong, targeted enforcement action in relation to “member services failures in the super sector”.