Australia

Structural Regulation

ACCC Rejects ANZ-Suncorp Merger Deal Over Competition Concerns

By Manesh Samtani | 07/08/2023

The ACCC said a merger between Bendigo and Adelaide Bank and Suncorp would be a better outcome.

Conduct, Culture & Accountability

ASIC Sues Ex-Director of Dixon Advisory for Alleged Breach of Duty

By Sanday Chongo Kabange | 05/08/2023

ASIC alleges that Paul Ryan breached his director obligations by not considering the interests of Dixon Advisory’s creditors when the firm was approaching insolvency.

Supervision & Enforcement

Australia’s Star Fined for Aiding Unlawful Credit Card Gambling

By Editors | 04/08/2023

Star Entertainment faces a $140,000 fine for facilitating illicit credit card gambling transactions and breaching exclusion orders.

Clearing & Post-Trade

ASX Unveils Advisory Group to Navigate CHESS Replacement Project

By Editors | 04/08/2023

ASX established an Advisory Group to provide strategic advice and restore confidence in the beleaguered CHESS replacement project.

Reporting & Disclosures

New Zealand XRB Sets Temporary GHG Assurance Standard

By Ranamita Chakraborty | 04/08/2023

From October 2024, climate reporting entities in New Zealand will need to use an internationally recognised assurance standard (ISAE or ISO) to obtain assurance over their greenhouse gas (GHG) emissions disclosures.

Trading & Investment

ASIC Sues eToro Over Retail Sales of High Risk CFD Products

By Sanday Chongo Kabange | 03/08/2023

ASIC says eToro’s target market was too broad for “such a high-risk and volatile trading product where most clients lose money”.

Anti-Bribery & Corruption

Australia High Court Calls for Higher Penalty in Foreign Bribery Case

By Editors | 03/08/2023

High Court justices rejected the A$1.35mn fine ordered in a foreign bribery case, deeming it insufficient.

Fraud, Scams & Cybercrime

ACCC Permits Banks to Collaborate on Anti-Scam Standards

By Sanday Chongo Kabange | 03/08/2023

The ABA and its member banks are permitted to collaborate on the development of cross-industry standards to combat scams.

Conduct, Culture & Accountability

AFCA Consults on Approach to Responsible Lending Complaints

By Sanday Chongo Kabange | 03/08/2023

Two separate consultations are being released, one on general responsible lending practices and the other on appropriate lending to small businesses.