Australia

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.

Enforcement

ASIC Files Suit Against PayPal for Unfair Contract Term

By Editors | 07/09/2023

The term in question gives PayPal business account holders 60 days to notify the company of any errors or discrepancies in fees, or else accept those fees as accurate.

Enforcement

ASIC Directs Retail OTC Issuers to Improve DDO Compliance

By Sanday Chongo Kabange | 07/09/2023

ASIC said it will punish issuers of CFDs and other high-risk products for failure to comply with their design and distribution obligations.