Australia

AML / KYC

New Zealand Mandates Stricter Due Diligence Rules for Partnerships

By Sanday Chongo Kabange | 01/10/2025

New regulatory guidance requires financial institutions to obtain and verify detailed information on the ownership, control, and legal structure of partnership clients.

Enforcement

ASIC Flags Deficiencies in Super Fund Audits and Asset Valuations

By Sanday Chongo Kabange | 30/09/2025

An ASIC review has found auditors are not sufficiently challenging valuations of unlisted assets, prompting calls for a significant uplift in reporting and audit quality.

Market Infrastructure

ACCC Authorises Coordinated Payments System Security Upgrade

By Sanday Chongo Kabange | 30/09/2025

The eight-year authorisation allows financial institutions to jointly manage the industry-wide migration to the advanced encryption standard (AES) to counter future cyber threats.

Sanctions

Former Myanmar Advisor Calls for Broader, 'Go Big' Sanctions

By Manesh Samtani | 29/09/2025

Sean Turnell, a former advisor to Aung San Suu Kyi, describes a 'tottering' banking system and urges a broader sanctions regime to choke off military funding.

Crypto / Digital Assets

ASIC Seeks Balance In Regulation of Crypto and Stablecoins

By Nathan Lynch | 26/09/2025

ASIC is taking a proactive approach to regulating cryptocurrency, despite chair Joe Longo's insistence that the products are too risky for his own portfolio, writes Nathan Lynch.

Enforcement

ASIC Rescinds Plan to Publish Firm-Level Breach Data

By Sanday Chongo Kabange | 26/09/2025

ASIC has reversed plans to publish firm-level compliance breach data after industry feedback, but will proceed with publishing individual firms' complaints data.

Market Infrastructure

RBA Dismisses Concerns That Card Fee Reforms WIll Impact Fraud Protections

By Mark Johnston | 26/09/2025

RBA governor has rejected industry warnings that the plan to ban card surcharges will result in reduced fraud prevention for consumers.

Capital / Liquidity

ASIC Urges Lenders to Further Improve Hardship Support

By Sanday Chongo Kabange | 25/09/2025

New ASIC report finds lenders have improved processes for customers in financial distress, but warns against "cookie-cutter" responses amid ongoing enforcement.

Crypto / Digital Assets

Australia Unveils Draft Legislation to Regulate Crypto Platforms

By Sanday Chongo Kabange | 25/09/2025

The new framework proposes bringing custodial crypto platforms under the financial services licensing regime, imposing new standards for asset holding and disclosure.