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AUSTRALIA
ASIC Publishes Industry Complaints Data for the First Time
By Sanday Chongo Kabange | 05/12/2024
ASIC says over 4.7 million complaints reported indicate that some financial firms may not be reporting complete and accurate IDR data.
Australia Passes Bill to Enshrine Superannuation Objective into Law
By Editors | 05/12/2024
Any future changes to super legislation must be judged against the objective, making policymakers more accountable when considering such changes.
AML / KYC
Australia Directs ACMA to Operate ‘Mandatory’ SMS Sender ID Register
By Sanday Chongo Kabange | 05/12/2024
The ACMA is directed to develop an enforceable industry standard for a mandatory ‘SMS Sender ID Register’ to protect against scams.
Crypto / Digital Assets
ASIC Seeks Feedback on Updated Guidance for Digital Assets
By Thisanka Siripala | 05/12/2024
ASIC proposes to regulate digital assets like traditional financial products, requiring crypto firms to apply for an AFS licence.
Securities / Derivatives
ASX Proposes Changes to Default Management Rules
By Editors | 04/12/2024
ASX proposes amendments to enable ASX Clear to auction off a defaulted clearing participant’s cash and derivatives market positions.
ESG / Sustainability
New Zealand FMA Reviews First Climate Statements under CRD Regime
By Sanday Chongo Kabange | 04/12/2024
The FMA is “encouraged” by the first climate statements filed by climate reporting entities and acknowledges the challenges they face.
ESG / Sustainability
Australia Pledges Investments under Singapore’s FAST-P Initiative
By Nithya Subramanian | 04/12/2024
The Australian government’s first investment will support clean energy and sustainable infrastructure projects across Southeast Asia.
AML / KYC
Australian Police Dismantle Money Laundering Syndicate
By Sanday Chongo Kabange | 03/12/2024
The AFP has arrested four men and dismantled an organised crime syndicate that allegedly laundered A$10mn of criminal proceeds.
Market Infrastructure
Australia Passes Bill to Overhaul RBA’s Governance Structure
By Thisanka Siripala | 03/12/2024
From 1 March 2025, the Reserve Bank of Australia will operate with two separate boards, a Monetary Policy Board and a Governance Board.
Market Infrastructure
Australia Passes Legislation on Tax Transparency and Global Minimum Tax
By Editors | 03/12/2024
Certain multinational enterprises will begin public country-by-country reporting of tax and other financial information, backdated from 1 July 2024.
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