AUSTRALIA

Enforcement

Australia: BUSSQ Ready to Comply with APRA Licence Conditions

By Sanday Chongo Kabange | 14/03/2025

BUSSQ has dropped its appeal against a decision requiring it to comply with additional licence conditions imposed by April last August.

Enforcement

ASIC Warns Payday Lenders Over Potential Regulatory Breaches

By Thisanka Siripala | 14/03/2025

ASIC found that some payday lenders have structured their business models to avoid consumer protection obligations.

Crypto / Digital Assets

GDF Warns ASIC Against Overregulating Digital Assets

By Manesh Samtani | 14/03/2025

ASIC should create a dedicated regulatory framework instead of primarily lifting from existing requirements, GDF says.

Enforcement

ASIC Takes FIIG Securities to Court Over Cybersecurity Failures

By Thisanka Siripala | 14/03/2025

ASIC alleges systemic and prolonged cybersecurity failures led to the compromise of personal information of approximately 18,000 clients.

Market Infrastructure

ASIC Commences Work on Regulatory Simplification Reforms

By Sanday Chongo Kabange | 13/03/2025

ASIC’s new “Simplification Consultative Group” is developing a discussion paper that will be released around Q3.

Enforcement

ASIC Sues AustralianSuper for Breaching Regulatory Obligations

By Sanday Chongo Kabange | 12/03/2025

AustralianSuper allegedly failed to process death benefit claims and pay members’ benefits in a timely manner.

AML / KYC

Australian Scam Losses Fall to A$2bn With Public-Private Partnership

By Nathan Lynch | 12/03/2025

Nathan Lynch discusses the NASC’s latest annual report and the insights it offers for bankers and AML/CFT professionals.

AML / KYC

Australia Recorded Further Declines in Scam Losses in 2024

By Sanday Chongo Kabange | 12/03/2025

A new ministerial direction will strengthen the pathways for victims to seek compensation for scam losses.

Market Infrastructure

RBA: Find Common Ground on Decommissioning BECS

By Sanday Chongo Kabange | 11/03/2025

The RBA found insufficient industry coordination, planning and certainty regarding decommissioning the BECS.