Australia

Market Infrastructure

RBNZ Proposes to Collect More Data on Cyber Incidents

By Editors | 09/05/2023

The RBNZ proposes to introduce mandatory reporting of all material cyber incidents within 72 hours, and periodic reporting of non-material incidents.

Enforcement

Australia: Medibank Faces Four Class Actions Over October Cyberattack

By Editors | 09/05/2023

The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.

ESG / Sustainability

New Zealand XRB Issues New Guidance on Climate-related Disclosures

By Editors | 08/05/2023

The guidance aims to support entities in preparing climate-related disclosures and to foster consistency through “clarity of understanding”.

ASIC Revises Implementation Approach for IDR Data Reporting

By Sanday Chongo Kabange | 08/05/2023

97 large financial firms started reporting IDR data early this year. 260 firms will have to start reporting by August 2023. The remaining firms will have until 29 February 2024.

ESG / Sustainability

Investors Welcome New Australian Net Zero Authority

By ESG Investor | 07/05/2023

The authority will co-ordinate decarbonisation opportunities across the economy, supporting efficient allocation in key sectors.

ASIC Uncovers Widespread Noncompliance With DDO Rules

By Sanday Chongo Kabange | 04/05/2023

ASIC deputy chair Karen Chester said closer scrutiny of how product issuers are meeting their design and distribution obligations is coming.

Market Infrastructure

PNGX Set to Adopt New Listing Rules, T+2 Settlement Cycle

By Sanday Chongo Kabange | 04/05/2023

The new listing rules will take effect in July, at the same time PNGX moves from a T+3 to T+2 settlement cycle.

Enforcement

Australia Court Sentences ‘Finfluencer’ for Manipulation

By Editors | 04/05/2023

This is the first time a person has been sentenced under a provision of the Corporations Act that covers the dissemination of information about illegal transactions.

AML / KYC

Sydney Roundtable: More AML Guidance Needed for Capital Markets

By Manesh Samtani | 04/05/2023

Roundtable participants said there is often little attention being paid to money laundering risks by capital market practitioners in Australia.