Australia

Structural Regulation

ASIC Confirms ASX Meets Regulatory Obligations

By Samuel Riding | 15/06/2016

Conclusion based on surveillance assessments and engagement with HK, Singapore regulators.

Conduct, Culture & Accountability

ASIC Starts 1st Civil Action on Best Interests Rule

By Samuel Riding | 10/06/2016

Regulator says financial adviser breached ‘best interests duty’ in selling life risk insurance.

Cloud & Infrastructure

ASIC Consults on Fintech Sandbox

By Samuel Riding | 08/06/2016

Regulator proposes six-month licensing exemption, modified organisational competence requirements.

Market Abuse

ASIC Launches 3rd BBSW-rigging Case

By Samuel Riding | 08/06/2016

Securities regulator accuses NAB of ‘unconscionable conduct and market manipulation’.

Structural Regulation

ASIC Eases Path to New Tax Systems for Investment Trusts

By Samuel Riding | 03/06/2016

Managed trusts can change constitutions without holding members’ meetings.

Payments & Settlements

Australia to Limit Payment System Surcharges

By Samuel Riding | 27/05/2016

Surcharges exceeding merchant costs to be barred on some payment systems.

Market Abuse

Credit Suisse Fined for Market Integrity Rule Breaches

By Samuel Riding | 20/05/2016

Australian unit fined USD50,000 for failure to have automated trading filters in place to prevent interference with market integrity.

Custody & Infrastructure

SSX to Develop Blockchain Settlement, Registration

By Samuel Riding | 20/05/2016

Sydney exchange’s system to be initially deployed across private markets platform.

Conduct, Culture & Accountability

HSBC Accepts ASIC Undertaking on Structured Product Sales

By Samuel Riding | 18/05/2016

Bank required to remediate clients who may have received ‘deficient advice’.