Australia

Market Infrastructure

NZ Regulators Demand Progress on Real-Time Payment System

By Editors | 27/07/2023

RBNZ and the Council of Financial Regulators criticised Payments NZ’s slow progress towards a real-time payment system.

Enforcement

Australia Fines Meta A$20m Over Misleading Data Usage Practices

By Editors | 27/07/2023

Australian Federal Court ordered Meta’s subsidiaries to pay AUD 20 million over deceptive consumer data usage, impacting over 270,000 users.

AML / KYC

Australia: National Digital ID System Could Launch Within 12 Months

By Editors | 27/07/2023

Australia’s national digital ID system to revolutionise identity verification, streamline processes and enhance security.

AML / KYC

UK and Australia Illicit Financing Co-ordination Dialogue

By Editors | 27/07/2023

High-level dialogue between UK and Australia reaffirms commitment to combat illicit financing and corruption.

Enforcement

ASIC Lodges Court Action Against Vanguard for Alleged Greenwashing

By Editors | 26/07/2023

ASIC said Vanguard falsely claimed the index it used excluded issuers with significant business activities involving fossil fuels.

FMA Starts Accepting Licence Applications Under CoFI Regime

By Ranamita Chakraborty | 26/07/2023

The FMA urges firms to prepare their applications “as early as possible” to ensure they can continue providing services after 31 March 2025.

Crypto / Digital Assets

Westpac and CBA Pilot Test Digital Australian Dollar

By Editors | 25/07/2023

Westpac and CBA used a CBDC to execute trades with certificates of deposit. Imperium Markets hosted the trades on its marketplace.

AML / KYC

Australia’s New Anti-Scam Centre Holds First Advisory Board Meeting

By Editors | 24/07/2023

The Advisory Board agreed to develop a naming convention for scams that will underpin the data sharing and analytics needed to disrupt scams.

Capital / Liquidity

APRA Finalises Guidance on Super Fund Investment Governance

By Editors | 23/07/2023

The guidance covers liquidity management, stress testing, valuation practices, and ESG expectations.