Australia

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    Fraud, Scams & Cybercrime

    Australia: New ID Register Blocks 300,000 Fraud Attempts

    By Nithya Subramanian | 15/04/2024

    Following the Optus breach, a new register was set up to prevent compromised personal credentials from being used as forms of identity.

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    Cryptocurrency

    NZ Official Hints at Future Crypto Regulatory Framework

    By Sanday Chongo Kabange | 15/04/2024

    Andrew Bayly acknowledged the risk of regulatory arbitrage “if New Zealand does not keep in step with” major digital asset regulatory developments.

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    Market Data & Technology

    APRA Issues Updated EFS Reporting Standards

    By Sanday Chongo Kabange | 12/04/2024

    The updated reporting standards and guidance will apply to reporting periods ending on or after 30 June 2024.

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    CBDCs

    Consumers Value Privacy Over Safety When Considering a CBDC: RBA

    By Editors | 12/04/2024

    Consumers attach no value to the added safety of a CBDC, or the fact that it would be issued by the RBA, as bank deposits are already considered safe.

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    Supervision & Enforcement

    ASIC Proposes Updates to Guidance for Insolvency Practitioners

    By Sanday Chongo Kabange | 12/04/2024

    The proposed updates will provide improved guidance on reporting requirements and reduce “unnecessary effort and expense”, ASIC said.

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    Structural Regulation

    Australia Unveils Plans to Strengthen Rules for Mergers

    By Sanday Chongo Kabange | 12/04/2024

    The reforms are expected to come into force on 1 January 2026, introducing a mandatory notification requirement for deals above certain thresholds.

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    Cryptocurrency

    ASIC Appeals Court Ruling in ‘Finder Earn’ Crypto Case

    By Sanday Chongo Kabange | 11/04/2024

    ASIC filed an appeal due to concerns that the Finder Earn product was offered without the appropriate licence or authorisation.

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    PEPs & Sanctions

    Australian Court Rules on Sanctions Law Breach by Coal Miner

    By Editors | 10/04/2024

    A Federal Court Justice has ruled that ASX-listed coal miner Tigers Realm Coal breached Australia’s sanctions law.

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    Operational Risk

    NZ FMA to Require Operational Resilience as Licence Condition

    By Sanday Chongo Kabange | 09/04/2024

    The FMA also launched a new “light-touch” online notification form for licence holders to notify the regulator of material incidents.

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    Cryptocurrency

    Australian Firm Seeks to List Spot Bitcoin ETF on Cboe

    By Editors | 06/04/2024

    The “Monochrome Bitcoin ETF”, if approved, will become Australia’s first spot bitcoin ETF with direct bitcoin holdings.

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