Australia

Crypto / Digital Assets

ASIC Warns Against Investing Super in Crypto Assets

By Sanday Chongo Kabange | 18/01/2022

ASIC says individuals who set up self-managed super funds may be increasingly targeted by scammers to invest in crypto-assets.

CFIUS Deems New Zealand Eligible as Excepted Foreign State

By Editors | 12/01/2022

Foreign investors from excepted foreign states are exempt from mandatory filings and national security reviews of real estate transactions and non-controlling investments.

Australia to Ease Regulatory Requirements for Financial Advisers

By Editors | 30/12/2021

The government proposes to recognise on-the-job experience as meeting financial adviser education requirements. It will also review ways to simplify other compliance obligations.

Australian Treasury to Review Effectiveness of ABSF Facility

By Editors | 28/12/2021

The Australian Business Securitisation Fund facility is designed to unlock a competitive funding source for smaller lenders to on‑lend to SMEs.

Enforcement

Australian Court Fines Mayfair Companies for Misleading Advertising

By Sanday Chongo Kabange | 24/12/2021

Four Mayfair companies were fined a combined A$30mn for “deliberately” misleading investors into buying highly speculative and risky investment products.

Securities / Derivatives

ASIC Urges Listed Entities to Disclose Business Risk Properly

By Sanday Chongo Kabange | 23/12/2021

Listed company directors and auditors should focus on impairment of assets, particularly as some businesses may be adversely affected in a post-Covid environment.

Fintech / Regtech

Australian Treasury Confirms Plans to Expand Consumer Data Right

By Mark Johnston | 23/12/2021

Action initiation functionality will be applied first in the banking sector to enable the development of new, competitive and consumer-focused payment services.

ESG / Sustainability

RBA Warns of ‘Dire Consequences’ from Cyber and Climate Risks

By Mark Johnston | 23/12/2021

The RBA’s Jonathan Kearns said banks need to continue to address evolving risks, as they can morph into systemic risks with potentially dire consequences.

Fintech / Regtech

Australian Regulators Endorse Government Plans for Crypto Sector

By Mark Johnston | 22/12/2021

Australia’s Council of Financial Regulators have endorsed the Treasury’s plan to form a new working group on the regulation of the crypto-ecosystem.