AUSTRALIA

Crypto / Digital Assets

ABA Calls for Swift Passage of Payment System Reforms

By Sanday Chongo Kabange | 05/02/2025

ABA CEO Anna Bligh said the reforms “first flagged over 1,200 days ago” are “urgently needed” and can be passed “this sitting fortnight”.

Australia to Continue Allowing Virtual Meetings, Digital Documents

By Sanday Chongo Kabange | 04/02/2025

Stephen Jones called on ASIC, ASX and industry bodies to issue guidance on appropriate conduct and use of technology at meetings

Sanctions

Australia Sanctions Online White Supremacist Network ‘Terrorgram’

By Editors | 04/02/2025

Australia sanctioned Terrorgram, four other entities that promote “violent extremist ideologies”, and the new leader of Hezbollah.

Capital / Liquidity

New Zealand: TSB Bank Calls for Fairer Capital Treatment

By Thisanka Siripala | 04/02/2025

TSB Bank executives say the current capital settings prevent smaller banks from competing with large banks

Enforcement

ASIC Commences Investigation into Dec 2024 Market Disruption

By Manesh Samtani | 04/02/2025

The investigation is looking into whether the market disruption at ASX constituted a breach of its obligations as a CS facility licensee.

AML / KYC

Big Four Australian Banks Start Using ConnectID System

By Thisanka Siripala | 04/02/2025

Over 10 million customers will be able to verify their identities using ConnectID without sharing unnecessary personal information

Australia to Review Compensation Scheme of Last Resort

By Thisanka Siripala | 03/02/2025

The review will address concerns that the scheme will largely be funded by financial advisers, which will increase the cost of financial advice for consumers​.

Enforcement

Australian Federal Court Sides With APRA in BUSSQ Case

By Thisanka Siripala | 03/02/2025

BUSSQ had challenged APRA’s decision to require the firm to engage an independent expert to review its processes for assessing fitness and propriety

Australia to Introduce Mandatory Service Standards for Super Funds

By Thisanka Siripala | 02/02/2025

The standards will focus on improving how death benefit payouts are handled, how insurance claims are processed and how super funds communicate with members​