Australia

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    ESG / Sustainability

    APRA Adds Climate Change Risk to New Statement of Intent

    By Editors | 12/06/2023

    A key update is the explicit inclusion of climate-related financial risks as a consideration for APRA’s duties.

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    Crypto / Digital Assets

    Commonwealth Bank to Restrict Payments To Crypto Exchanges

    By Karen Ng | 09/06/2023

    Caroline Bowler, head of BTC Markets, warns that the move could push crypto investors to overseas platforms that have fewer protections.

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    AML / KYC

    NZ DIA Warns Real Estate Firm for AML Non-compliance

    By Sanday Chongo Kabange | 09/06/2023

    The warning is the second the DIA has issued to a real estate agent since the AML/CFT Act began applying to real estate agents in 2019.

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    Crypto / Digital Assets

    Australia Issues New Strategic Plan for Payments System

    By Manesh Samtani | 08/06/2023

    A new licensing framework will be introduced, including for payment stablecoin issuers. RBA will explore fast payment links with other jurisdictions.

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    Enforcement

    ACMA Fines CBA for Breaching Australia’s Spam Laws

    By Sanday Chongo Kabange | 08/06/2023

    CBA sent more than 65 million emails that did not comply with Australia’s spam laws, the ACMA said on Wednesday.

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    Fintech / Regtech

    Australia Confirms it Will ‘Pause’ CDR Expansion Plan

    By Sanday Chongo Kabange | 08/06/2023

    Treasury is pausing plans to expand the CDR to the superannuation, insurance and telecommunications sectors.

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    AML / KYC

    NZ DIA Lists Common Areas of AML Non-Compliance at DNFBPs

    By Sanday Chongo Kabange | 07/06/2023

    Common areas of non-compliance were identified from a review of 60 law firms, accounting practices and real estate agents.

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    Enforcement

    ASIC Issues First DDO Stop Order Against CFD Distribution

    By Sanday Chongo Kabange | 06/06/2023

    ASIC said Mitrade Global relied on a retail investor questionnaire with “significant flaws”. The interim stop order was later revoked.

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    Enforcement

    ASX Releases Reports on CHESS System to ASIC, RBA

    By Sanday Chongo Kabange | 06/06/2023

    ASX to keep CHESS operational until at least 2032. ASIC said it is prepared to take regulatory action to ensure ASX complies with its regulatory obligations.

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    Enforcement

    PwC Australia Facing Loss of “Substantial” Government Contracts

    By Editors | 06/06/2023

    A number of government agencies, including ASIC, are reviewing contracts with PwC Australia over confidentiality breaches.

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