Australia

Sustainable Finance

Australia Consults on New Sustainable Finance Strategy

By Sanday Chongo Kabange | 03/11/2023

The strategy includes plans to develop a fund-labelling regime for sustainable investment products and explore nature-related disclosures.

Anti-Money Laundering

AUSTRAC Establishes Operational Response To Israel-Gaza Conflict

By Sanday Chongo Kabange | 02/11/2023

AUSTRAC advises reporting entities to report any suspicious transactions they identify as part of the “important role” they play in stopping financial crime.

Structural Regulation

Australia Commences Review of 2021 Disclosure Law Amendments

By Editors | 01/11/2023

The review will seek to determine whether the 2021 amendments are working as intended.

Capital Adequacy

APRA Applies A$20m Capital Charge to RAC Insurance

By Sanday Chongo Kabange | 01/11/2023

APRA said its review of RAC Insurance revealed “significant weaknesses” in its outsourcing controls, conflict management and board decision making.

ESG Data

Integration of AI, Fintech, ESG Gets Underway 

By Jill Wong | 31/10/2023

The financial industry is accelerating its interest around three main themes – fintech, ESG and AI.

Climate Risk

FMA Updates Guidance on Climate-related Scenario Analysis

By Sanday Chongo Kabange | 31/10/2023

The FMA’s updated climate-related scenario analysis guidance includes additional details on quantification, further clarification and context.

Credit Risk

APRA Adopts Changes to Credit Risk Reporting Standard

By Editors | 30/10/2023

The reporting standard for counterparty credit risk is being amended so it only applies to significant financial institutions.

Anti-Money Laundering

Penalties for Non-Enrolment with AUSTRAC to Start on 9 Nov

By Editors | 26/10/2023

Businesses that provide designated services without enrolling with AUSTRAC will accrue daily penalties starting from 9 November.

Anti-Money Laundering

AFP Arrests Seven Over $228m Money Laundering Scheme

By Editors | 26/10/2023

The seven are being charged under the “most complex AFP-led money-laundering investigation in the nation’s history”.