AUSTRALIA

Fintech / Regtech

Australia Rolls Out Merchant Choice Routing for Mobile Payments

By Thisanka Siripala | 27/09/2024

AP+ said merchants will for the first time have the choice to process mobile wallet payments via the lower-cost eftpos network.

Australia Consults on Further Revisions to Tax Agents Code of Conduct

By Sanday Chongo Kabange | 26/09/2024

The revisions aim to address industry concerns about obligations to correct false or misleading statements and disclosures that must be made to clients.

ESG / Sustainability

New Zealand Considers Ways to Ease Climate Reporting Burden

By Mark Johnston | 26/09/2024

The XRB is considering easing certain disclosure and assurance requirements to allow time for improvements in data availability and quality.

Enforcement

ASIC Fines Macquarie for ‘Serious’ Gatekeeper Failure

By Sanday Chongo Kabange | 26/09/2024

Macquarie was fined for failing to act promptly and appropriately to prevent manipulation in the electricity futures market.

Market Infrastructure

APRA Releases New Performance Metrics for Super Funds

By Sanday Chongo Kabange | 26/09/2024

APRA seeks to improve member outcomes by bringing together performance metrics of the performance test and superannuation heatmaps.

Crypto / Digital Assets

ASIC Seeks to Require Crypto Firms to Obtain AFS Licence

By Thisanka Siripala | 26/09/2024

Commissioner Alan Kirkland said ASIC is seeking to bring crypto businesses into the existing financial regulatory framework.

Enforcement

Australia to Launch Inquiry Into Collapse of Dixon Advisory

By Thisanka Siripala | 26/09/2024

The inquiry will explore the actions of individuals involved, ASIC’s response, and the implications for the CSLR.

APRA Revises Reporting Requirements for Superannuation Entities

By Thisanka Siripala | 25/09/2024

The revisions will improve transparency on the super funds’ investment costs and trustees’ financial statements data.

Capital / Liquidity

APRA Remakes IRRBB Standard as Stopgap Until Revisions Take Effect

By Thisanka Siripala | 25/09/2024

APRA has remade its existing IRRBB standard so it continues to apply until 1 October 2025, when revisions to the standard take effect.