AUSTRALIA

Fintech / Regtech

ASIC Says Governance Arrangements are Lagging AI Adoption

By Sanday Chongo Kabange | 30/10/2024

ASIC Chair Joe Longo said must consider their existing obligations and duties and avoid simply waiting for AI laws and regulations to be introduced.

Crypto / Digital Assets

BIS and APAC Central Banks Release Results of Project Mandala

By Sanday Chongo Kabange | 29/10/2024

Project Mandala demonstrated that jurisdiction-specific regulatory requirements can be embedded in cross-border transaction protocols.

ESG / Sustainability

Australia: Santos Faces Shareholder Lawsuit Over Net-Zero Claims

By Thisanka Siripala | 29/10/2024

The Australasian Centre for Corporate Responsibility says Santos’ emission reduction roadmap lacks credible foundation.

Enforcement

ASIC Annual Report Details Increasing Focus on Accountability, Enforcement

By Thisanka Siripala | 29/10/2024

In the 12 months ending June 2024, ASIC conducted 690 surveillance operations and 168 formal investigations, and filed 32 cases against 69 defendants.

Securities / Derivatives

Regulatory Review Finds Gaps in New Zealand’s DIMS Sector

By Thisanka Siripala | 28/10/2024

The review identified issues with disclosure practices, conflict of interest policies, and liquidity management at some discretionary investment management providers.

AML / KYC

Australia to Create Streamlined Process for Scam Victims to Seek Redress

By Mark Johnston | 25/10/2024

AFCA will operate an external dispute resolution scheme for scam victims to seek compensation from banks, telcos and digital platforms.

Capital / Liquidity

APRA Amends Operational Risk Financial Requirement for Super Funds

By Thisanka Siripala | 25/10/2024

The amendments to the operational risk financial requirement (ORFR) under SPS 114 will take effect from 1 July 2025, to align with CPS 230.

Securities / Derivatives

NZX Amends Market Maker Eligibility Settings, Effective 22 Nov

By Editors | 25/10/2024

From 22 November, firms will be able to participate as market makers without being direct trading participants of NZX.

Enforcement

ASIC Sues Australia’s Largest Insurer for Overcharging Premiums

By Thisanka Siripala | 25/10/2024

QBE Insurance promised certain discounts on premiums that were not properly applied, leading to higher-than-expected premiums for many policyholders.