AUSTRALIA

Market Infrastructure

Australia Introduces First Tranche of Privacy Reforms to Parliament

By Manesh Samtani | 12/09/2024

The proposed reforms will strengthen the OAIC’s enforcement toolkit and provide the Courts new functions and capabilities to address privacy breaches.

Enforcement

ASIC Report Highlights Hardship Misconduct as Key Focus

By Thisanka Siripala | 12/09/2024

ASIC said it is actively conducting investigations into suspected breaches by lenders of their financial hardship obligations.

ESG / Sustainability

Australian Parliament Passes Climate Disclosures Legislation

By Manesh Samtani | 11/09/2024

Climate-related disclosures will be mandatory for all public companies and large proprietary companies starting in January 2025.

ASIC Directs Product Issuers to Improve DDO Compliance

By Sanday Chongo Kabange | 11/09/2024

ASIC’s Alan Kirkland called on issuers to ensure that their product design and distribution practices are “up to scratch”.

ACCC Updates Guidelines on Interim Authorisation

By Sanday Chongo Kabange | 11/09/2024

The updated guidelines seek to clarify expectations around how the ACCC makes decisions on granting interim authorisation.

AML / KYC

Australia Introduces AML/CTF Reform Bill to Parliament

By Sanday Chongo Kabange | 11/09/2024

The amendment bill will bring tranche 2 entities into scope and modernise the regulation of virtual assets and payments tech.

Market Infrastructure

Australia and Japan Pledge Deeper Cybersecurity, Defence Ties

By Thisanka Siripala | 11/09/2024

Australia and Japan have strengthened their cybersecurity ties with the launch of the Pacific Digital Development Initiative.

ESG / Sustainability

Australia Releases Interim Report on Taxonomy Development

By Sanday Chongo Kabange | 11/09/2024

The report sets out the progress made towards the development of Australia’s sustainable finance taxonomy.

AML / KYC

Stronger AML Controls Needed to Combat Organised Crime: AIC

By Thisanka Siripala | 10/09/2024

The Australian Institute of Criminology found that money laundering activity by organised crime groups leads to increases in crime-related harm.