ADVERTISEMENT
ASIC Deputy Chair Crennan Resigns Amid Expense Probe
By Editors | 27/10/2020
The probe relates to almost A$200,000 in payments that were made on behalf of Chairman James Shipton and to Deputy Chair Daniel Crennan that may have exceeded official limits.
AML / KYC
Australian Police Arrest NAB Employee on Fraud Charges
By Editors | 25/10/2020
The former employee faces charges for conspiring to cheat and defraud and attempting to launder A$21.6mn in illicit proceeds through NAB.
Crypto / Digital Assets
ASIC Intervenes to Restrict CFD Leverage, Curb Retail Losses
By Editors | 25/10/2020
In a new product intervention order targetting contracts for difference, ASIC has imposed leverage limits and standardised margin close-out arrangements.
FMA to Recognise Australian Financial Advice Qualifications
By Editors | 25/10/2020
In addition to holding Australian qualifications, the FMA proposes that Australian advisers will need to have at least 12 months’ experience working in Australia.
Super Licensees Must Observe Controlling Stake Requirements: APRA
By Editors | 23/10/2020
Regulatory approval is required before a change in a superannuation licensee’s ownership occurs. Noncompliance may attract “severe penalties”.
AML / KYC
AUSTRAC Wants Lawyers, Accountants Under its AML Remit
By Editors | 23/10/2020
AUSTRAC chief Nicole Rose expressed concerns that professional facilitators are being used to evade money laundering detection.
Securities / Derivatives
NZX, EEX to Jointly Develop Auction Service for Emissions Trading
By Editors | 23/10/2020
NZX and EEX will develop and operate the managed auction service for New Zealand’s Emissions Trading Scheme, helping to bring carbon costs into the mainstream.
AML / KYC
Australia Launches Bribery Prevention Network
By Editors | 23/10/2020
The Bribery Prevention Network aims to support Australian businesses in addressing bribery and corruption risks in domestic and international markets.
Enforcement
Sydney Court Orders SocGen Securities to Pay A$30,000 Penalty
By Sanday Chongo Kabange | 22/10/2020
SocGen pleaded guilty in July for failing to pay client money into segregated authorised bank accounts and for making payments out of a client money account that were not permitted.
Enforcement
Australian Federal Court Fines OTC Derivative Issuers A$75m
By Editors | 22/10/2020
The three OTC derivatives issues are now in liquidation and have also been ordered pay ASIC’s costs and to refund approximately 10,000 former clients, on top of the penalties.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.