ADVERTISEMENT
Enforcement
ASIC Wins Appeal Against Payday Lenders Cigno, BHF Solutions
By Editors | 30/06/2022
ASIC is now considering using its broader product intervention powers to address consumer detriment in continuing credit contracts.
New Zealand Passes Law to Introduce ‘Conduct Licensing’ Regime
By Sanday Chongo Kabange | 30/06/2022
Banks, insurers and non-bank deposit takers will be required to obtain a conduct licence from the FMA, on top of their prudential licences from the RBNZ.
Fintech / Regtech
Another Australian Neobank Announces Decision to Close
By Manesh Samtani | 30/06/2022
The SME-focused Judo Bank is the only neobank in Australia which continues to run independently after listing on the ASX last year.
Australia Gets New Life Insurance Code of Practice
By Editors | 28/06/2022
The new Life Code takes effect on 1 July 2023, providing the industry with twelve months to transition and make the necessary systems changes.
AML / KYC
AUSTRAC Updates Guidance on Reporting Cash Transactions
By Editors | 28/06/2022
When a customer makes multiple cash transactions of A$10,000 or more, each individual transaction is considered a separate and distinct designated service.
ASIC Issues New Guidance on Product Design and Distribution
By Editors | 28/06/2022
ASIC has identified behavioural levers that can influence consumer outcomes and situational vulnerabilities that can amplify poor outcomes.
Securities / Derivatives
ASIC Demands More Transparent Communications from Super Trustees
By Editors | 26/06/2022
The communication strategies of some trustees may have risked confusing or misleading members about their product’s performance, ASIC said.
Securities / Derivatives
ASIC Issues Guidance on CCIV Registration, Licensing
By Sanday Chongo Kabange | 24/06/2022
To register a CCIV and initial sub-fund, a corporate director would first need to obtain an AFS licence, which can be a variation of an existing licence.
AML / KYC
NSW to Strengthen State AML Laws to Target Organised Crime
By Editors | 24/06/2022
New legislation will be introduced around September to enable police to stop-and-search for and seize unexplained wealth and ban encrypted devices.
Market Infrastructure
NZ FMA Issues Guidance on Financial Sector Cyber Resilience
By Editors | 24/06/2022
The financial services sector recorded more cyber incidents than all other industries in New Zealand in the quarter ending March.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.