AUSTRALIA

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    Big Picture

    RBNZ Report Assesses Impact of AI on Financial Stability

    By Sanday Chongo Kabange | 06/05/2025

    RBNZ’s Kerry Watt said AI’s impact could be positive, especially in enhancing resilience, but it could also introduce or amplify vulnerabilities

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    AML / KYC

    The Skinny on Scams: Australia, Hong Kong, and Singapore Focus on Financial Deception

    By Nathan Lynch | 06/05/2025

    Nathan Lynch explores the lessons from the different approaches to managing the sophistication and scale of the burgeoning “scam industry”.

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    Securities / Derivatives

    ASX Proposes Changes to CDI Depositary Nominee Rules

    By Editors | 05/05/2025

    The proposed amendments update the legal framework for Depositary Nominee services provided in respect of CHESS Depositary Interests.

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    Enforcement

    NZ High Court Orders Westpac to Pay Penalty for Misleading Customers

    By Sanday Chongo Kabange | 03/05/2025

    Westpac was fined for failing to deliver contractually agreed discounts to over 20,000 customers, a breach of the FMCA’s fair dealing provisions.

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    Capital / Liquidity

    RBNZ Outlines Path Ahead for Deposit Taker Regulations

    By Manesh Samtani | 02/05/2025

    RBNZ details next steps for new deposit taker rules, including liquidity, disclosure, and depositor compensation. Decisions on capital rules will come later.

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    Crypto / Digital Assets

    Australia NASC Reports Surge in Phishing Scams, Financial Losses

    By Sanday Chongo Kabange | 02/05/2025

    The NASC has recorded an increase in phishing scams, resulting in losses of AUD 11.1 million from 1 January to 23 March this year.

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    Fintech / Regtech

    ACCC Authorises AusPayNet, AP+ to Engage on Payments Infrastructure 

    By Sanday Chongo Kabange | 02/05/2025

    ACCC has given AusPayNet, AP+ and others interim approval to share information relating to the future development of Australia’s payments infrastructure.

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    Enforcement

    ASX Outlines CHESS Resourcing Plan in Response to RBA Rebuke

    By Sanday Chongo Kabange | 02/05/2025

    ASX has committed to a series of actions to further strengthen its resourcing arrangements for the maintenance and support of CHESS.

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    AML / KYC

    AUSTRAC to Cancel Registrations of Inactive Crypto Exchanges

    By Sanday Chongo Kabange | 01/05/2025

    Around a quarter of Australia’s 400-plus registered digital currency exchanges are believed to be inactive, and at risk of being co-opted by criminals.

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    Fintech / Regtech

    NZ FMA Announces First Six Firms That Will Join Pilot Sandbox

    By Manesh Samtani | 30/04/2025

    Six firms will test new products and services in a controlled environment, helping the FMA to gain greater insights into new technologies.

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