Australia

Sanctions

US and Allies Impose New Wave of Sanctions Against Iran

By Editors | 18/09/2023

The sanctions by the US, UK, Canada and Australia come one year after the death of Mahsa Amini while in the custody of Iran’s Morality Police.

AML / KYC

Australia Introduces Identity Verification Services Bill to Parliament

By Editors | 17/09/2023

The government said the bill strikes “the right balance between achieving fast and convenient identity verification and maintaining strong standards of privacy and security.

Australia to Ban Credit Card, Digital Currency Use for Online Gambling

By Editors | 14/09/2023

The  bill will make it illegal for online gambling companies to accept credit cards, credit related products and digital currency as payment methods for online gambling.

Market Infrastructure

NZX Consults On Introduction of Exchange-delivered Dark Pool

By Sanday Chongo Kabange | 14/09/2023

‘NZX Dark’ will provide an alternative venue for investors to execute large transactions with anonymity and price improvement.

Crypto / Digital Assets

HKMA, Central Banks to Beta Test CBDC Interoperability Solution

By Editors | 14/09/2023

New use cases for the solution, developed by Swift, are also being tested in a new sandbox environment by the RBA, BOT, CLS and other institutions.

Australia Passes Bill to Ease Education Burden on Financial Advisers

By Sanday Chongo Kabange | 12/09/2023

The new legislation will allow financial advisers with 10 years’ experience and a clean record stay in the industry.

Capital / Liquidity

APRA to Amend Counterparty Credit Risk Reporting Standard

By Editors | 11/09/2023

The amendments will remove the applicability of ARS 180.0 to non-significant financial institutions as they are smaller and less complex.

ESG / Sustainability

Australia Urged to Make Transition Plans Mandatory

By ESG Investor | 10/09/2023

IGCC, PRI, and Carbon Disclosure Project have written to Australia’s Treasurer calling for standardisation and regulatory guidance on transition plans.

Enforcement

ASIC Sues AustralianSuper For Failing to Consolidate Member Accounts

By Sanday Chongo Kabange | 08/09/2023

ASIC alleges that for almost 10 years, AustralianSuper charged fees on unintended multiple accounts, affecting approximately 90,000 members.