Australia

Market Infrastructure

ASX Finalises Settlement Workflow Changes for CHESS Replacement

By Ranamita Chakraborty | 05/07/2021

Netting will be expanded to include all novated trades and the creation of the NBO and associated messaging will be discontinued to provide greater system scalability.

Enforcement

Westpac to Pay Remediation Over Corporate Actions Failures

By Editors | 04/07/2021

ASIC says it encourages all advice licensees and platform operators to consider their own corporate action management arrangements.

Securities / Derivatives

ASIC Consults on Changes to Market Integrity Rules

By Editors | 02/07/2021

Among the changes, the consultation proposes to require market participants to notify ASIC if it suspects a person of engaging in insider trading or manipulative trading.

Market Infrastructure

FMA Finds Improved Regulatory Arrangements at NZX

By Ranamita Chakraborty | 01/07/2021

The overall design of NZ RegCo is a notable improvement on prior arrangements, FMA said in an annual review of NZX.

Securities / Derivatives

ASIC Proposes New Guidance for Crypto-asset ETPs

By Editors | 01/07/2021

In ASIC’s view, only bitcoin and ether are likely to satisfy proposed criteria for determining whether a crypto-asset is appropriate as an ETP’s underlying asset.

Big Picture

Investors Call for Mandatory Climate Disclosures in Australia

By Sanday Chongo Kabange | 01/07/2021

Paper outlines suggestions for mandatory climate risk disclosures to be introduced in Australia over the next four years.

AML / KYC

Eftpos Launches Business to Make Digital IDs Interoperable

By Ranamita Chakraborty | 30/06/2021

ConnectID acts as a ‘broker’ between identity providers, securely facilitating identity verification and data exchange, without storing identity data.

Enforcement

ASIC Product Intervention Order Upheld in Full Federal Court

By Editors | 30/06/2021

ASIC is entitled to consider not just the characteristics of a relevant financial product, but also the particular circumstances in which it is supplied, the Court said.

Australia Introduces Bill to Improve Financial Advice

By Editors | 30/06/2021

FASEA’s functions will transfer to the Treasury and ASIC. New disciplinary and registration systems for financial advisers will apply from January 2022.