Australia

Enforcement

RBNZ Finalises Guidelines on Enforcement Principles and Criteria

By Editors | 19/05/2022

The enforcement principles guide RBNZ’s investigation and enforcement strategy. The enforcement criteria help determine the appropriate enforcement response to non-compliance.

Enforcement

ASIC Sets Out Expectations on Cyber Risk Management

By Mark Johnston | 19/05/2022

The guidance follows Australia’s first Federal Court judgment ruling that an AFS licensee breached its obligations on managing cyber risk.

Australia Considers Use of Super Savings to Buy Property

By Editors | 18/05/2022

The incumbent government’s Super Home Buyer Scheme, seen as a play for voters, is being cricitised by the superannuation industry.

AML / KYC

NSW Ministers Working on New AML Laws – Report

By Editors | 17/05/2022

The NSW attorney general and police minister are working on new laws to tackle unexplained wealth and organised crime.

Market Infrastructure

ASIC Consults on Final Derivatives Reporting Rules

By Manesh Samtani | 17/05/2022

ASIC will implement the UTI and LEI requirements on 1 October 2023, and the UPI and CDE on 1 April 2024.

Australian Groups Call for Better Regulation of BNPL Services

By Sanday Chongo Kabange | 16/05/2022

Charities and consumer groups are calling for BNPL services to be regulated like other credit products to prevent unnecessary financial harm.

Enforcement

APRA Orders Super Trustee to Improve Governance

By Editors | 16/05/2022

APRA said the direction was necessary to ensure NESS Super Pty Ltd expedites the appointment of an additional independent director.

AFCA to Speed Up Dispute Resolution With Early Merit Assessments

By Editors | 14/05/2022

Pilot tests conducted last year found that early merit assessments halved the time taken to resolve certain cases and reduced fees charged by up to 75 percent.

Fintech / Regtech

CBOE Australia Commences Trading in First Three Crypto ETFs

By Editors | 13/05/2022

Cosmos launched a feeder ETF offering indirect bitcoin exposure. 21Shares and ETF Securities launched a bitcoin ETF and an ether ETF, offering direct exposure.