Australia

AML / KYC

AUSTRAC Announces Regulatory Priorities for 2024

By Editors | 13/12/2023

AUSTRAC will scrutinise the banking, gambling and remittance sectors, as well as crypto firms, payment platforms and non-bank lenders.

ESG / Sustainability

ACCC Issues Finalised Guidance on Greenwashing

By Sanday Chongo Kabange | 13/12/2023

The guidance comprises eight principles to help businesses ensure their environmental and sustainability claims comply with the law.

Capital / Liquidity

APRA Advances Proposals on Interest Rate Risk Management

By Sanday Chongo Kabange | 13/12/2023

APRA updated its revisions to APS 117 based on consultative feedback and is now consulting on changes that are relevant to smaller banks.

Enforcement

Australia to Increase Tax Practitioners Board’s Enforcement Powers

By Sanday Chongo Kabange | 12/12/2023

New consultations propose to strengthen the Tax Practitioners Board’s sanctions regime and expand its Code of Professional Conduct.

Securities / Derivatives

NZX Confirms Effective Date of Listing Rule Changes

By Editors | 12/12/2023

NZX will permit accelerated non-renounceable entitlement offers, known as ANREOs, if doing so is in the best interests of the issuer, and subject to additional safeguards.

Australia to Simplify, Enhance Financial Advice Rules

By Mark Johnston | 11/12/2023

The reforms aim to make financial advice more accessible, affordable and safe for consumers.

Fintech / Regtech

Australia Proposes Licensing Framework for Payment Services

By Manesh Samtani | 09/12/2023

Payment service providers would need to be licensed by ASIC, and in some cases, APRA. The ePayments Code will also be updated and made mandatory.

Enforcement

APRA Identifies Defective Cyber Controls at NGS Super

By Sanday Chongo Kabange | 08/12/2023

APRA said multiple reviews identified deficiencies in NGS’ compliance with its standards on information security.

Fintech / Regtech

Australia Passes Identity Verification Bill to Boost Privacy and Security

By Mark Johnston | 08/12/2023

The new legislation will require identity verification services to adhere to privacy and security standards and report breaches to the OAIC.