Australia

Supervision & Enforcement

ASIC to Restructure to Enable Faster Enforcement Decisions

By Editors | 09/02/2023

ASIC will streamline its business groups and reduce the number of divisions to make its enforcement approach more strategic and free up funding for technology investments.

Data Privacy

Industry Bodies Call on ACCC to Intervene Against ING

By Sanday Chongo Kabange | 08/02/2023

FinTech Australia and FDATA say ING’s planned platform upgrade will invalidate thousands of CDR consents and force consumers to redo the process.

Market Abuse

ASIC Disciplinary Panel Fines Stockbroker Over Trade Pricing

By Editors | 07/02/2023

Wilsons Advisory and Stockbroking reported over 2,000 trades as TWPI transactions in circumstances where the trades did not provide price improvement.

Cryptocurrency

Crypto Down Under: Unpacking Australia’s Token Mapping Consultation

By Angela Ang | 07/02/2023

Angela Ang and TRM’s policy team unpack the key themes discussed in the token mapping consultation paper and what it means for the industry.

Conduct, Culture & Accountability

NZ FMA Offers Guidance on Providing Investment Advice

By Editors | 07/02/2023

The guidance focuses on situations where it is difficult or impractical to access information to support reasonable grounds for financial advice on an investment product.

Reporting & Disclosures

Australia: ISSB ‘Safe Harbour’ Deemed Unnecessary

By ESG Investor | 06/02/2023

Australian company directors are not expected to face increased liability risks under the incoming ISSB reporting requirements.

Fraud, Scams & Cybercrime

CBA to Introduce New ‘NameCheck’ Scam Prevention Feature

By Editors | 06/02/2023

‘NameCheck’ will provide customers an indication of whether the name and account details they have entered in money transfers are correct.

Cryptocurrency

Australian Treasury Issues Token Mapping Consultation Paper

By Manesh Samtani | 06/02/2023

The paper distinguishes four major types of crypto-related products to help conceptualise how they might fit within existing regulatory frameworks.

Anti-Money Laundering

AFP Dismantles Chinese-Australian Money Laundering Syndicate

By Editors | 03/02/2023

Police seized over AUD 150 million in assets including crypto, and charged nine individuals including a NAB banker with money laundering.