Australia

Market Infrastructure

CPMI Publishes Harmonised Data Requirements for ISO 20022

By Mark Johnston | 18/10/2023

The BOE, ECB and RBA have committed to aligning with the new requirements and call on other market infrastructures and payment service providers to do the same.

Securities / Derivatives

DSB Launches UPI Service, a Milestone for Derivatives Markets

By Manesh Samtani | 18/10/2023

The US, EU, UK, Australia and Singapore will all start requiring UPI reporting for OTC derivatives transactions in 2024.

Crypto / Digital Assets

Australia Consults on Proposed Regulatory Framework for Crypto

By Manesh Samtani | 16/10/2023

Digital asset platforms would be subject to existing financial services laws and required to obtain a licence from ASIC.

Enforcement

ASIC Wins ‘Landmark’ Case Over ANZ’s 2015 Share Placement

By Editors | 15/10/2023

The Federal Court said ANZ breached the law by failing to disclose that its underwriters took up nearly a third of its 2015 share placement.

Fintech / Regtech

Australia to Regulate Digital Payment Providers

By Editors | 12/10/2023

The RBA will regulate new and emerging payments systems the same way as credit cards, EFTPOS and other transactions.

Enforcement

Kiwibank Fined for Overcharging Transaction Fees

By Editors | 12/10/2023

The court said the relevant conduct involved “negligence, and no intention to deprive customers of their entitlements.”

AML / KYC

ML/TF Risks Facing the Australian Legal Profession: Report

By Manesh Samtani | 11/10/2023

Luke Murphy, president of the Law Council of Australia, said there are vulnerabilities but they can be managed by augmenting existing controls.

APRA Seeks Increased Transparency on Super Fund Spending

By Editors | 11/10/2023

APRA wants to disclose super fund expenses for marketing, sponsorships, related parties, industry bodies, director and executive remuneration, and political donations.

Australia Consults on Aligning Timing of Super Payments With Wages

By Editors | 10/10/2023

Employers tend to make super payments quarterly, even though employees are typically paid in fortnightly or monthly pay cycles.