Australia

ASIC Warns on Using ‘Influencers’ to Promote Financial Products

By Sanday Chongo Kabange | 22/03/2022

ASIC places responsibility firmly on AFS licensees to ensure that any influencers they use and the financial-related content they present complies with the law.

Crypto / Digital Assets

Australia Opens Consultation on Regulatory Regime for Crypto

By Manesh Samtani | 22/03/2022

The consultation proposes minimum standards of conduct, AML compliance obligations, and fit and proper requirements for directors and key persons.

Securities / Derivatives

ASIC Consults on CCIV Licensing Requirements

By Editors | 22/03/2022

ASIC will be able to limit a corporate director’s CCIV operations to one CCIV with a single sub-fund if the corporate director fails to demonstrate ‘organisational competence’ and capacity.

NZ FMA Asked to Improve Conflicts Handling Process

By Editors | 21/03/2022

An independent review has found shortcomings in the way the FMA handled a conflict of interest last year and proposed changes to its processes.

Fintech / Regtech

Australia Consults on Expansion of CDR to Non-Bank Lending

By Editors | 20/03/2022

The designation of non-bank datasets under the CDR will support creditworthiness assessments and compliance with responsible lending obligations.

ASIC to Review Whistleblower Policies for Noncompliance

By Editors | 20/03/2022

ASIC will consider enforcement action and other regulator tools where compliance falls short of expectations, says commissioner Sean Hughes.

AML / KYC

NZ Regulators Issue Guidance on Russia Sanctions Compliance

By Manesh Samtani | 19/03/2022

The guidance highlights the need for reporting entities to conduct due diligence to understand who has effective control or beneficial ownership of legal structures.

Australia Releases Terms of Reference for Quality of Advice Review

By Editors | 18/03/2022

The review presents will assess how the regulatory framework for financial advice could deliver better outcomes for consumers.

Market Infrastructure

ASIC Expresses “Significant Concern” Over 4-Hour Outage at ASX

By Editors | 18/03/2022

After the incident on Thursday, ASIC said it views the outage with “significant concern” due to its “significant impact” on the market, market participants and investors.