AUSTRALIA

Market Infrastructure

ASIC Revises Trade Reporting Rules to Adopt February Proposals

By Manesh Samtani | 29/08/2024

ASIC will adopt the ‘nexus’ test to determine the scope of foreign entity reporting and remove alternative reporting.

Enforcement

Austal and Australian Parent Settle US Fraud Charges for $24m

By Editors | 28/08/2024

Austal manipulated its financial results to avoid falling short of analyst expectations and mislead shareholders, the SEC and DOJ said.

Capital / Liquidity

APRA Sets Priorities for Ensuring Financial System Resilience

By Sanday Chongo Kabange | 28/08/2024

APRA’s new corporate plan aims to ensure the financial and operational resilience of regulated entities, while also responding to new risks.

Market Infrastructure

Australia Releases Terms for Banking Competition Review

By Editors | 28/08/2024

The review will examine how regulators can enable more proportionate regulation to improve the competitiveness of smaller banks.

ESG / Sustainability

New Zealand to Reduce Supply of Carbon Offset Units

By Ranamita Chakraborty | 28/08/2024

Oversupply has depressed carbon prices, causing auction failures and jeopardising climate targets and emissions budgets.

Fintech / Regtech

Westpac to Expand Anti-Scam Feature to Institutional Clients

By Sanday Chongo Kabange | 28/08/2024

Westpac’s institutional and government clients will be able to run a check on payee details before making payments.

Fintech / Regtech

CBA, BNY Enable Real-Time Cross-Border Payments

By Sanday Chongo Kabange | 27/08/2024

The new arrangement enables the AUD leg of inbound cross-border payments to be processed in under a minute.

AML / KYC

Australia Passes Legislation for SMS Sender ID Register

By Sanday Chongo Kabange | 27/08/2024

The register will allow telcos to block messages being sent under a brand name that don’t correspond with the legitimate sender.

ESG / Sustainability

Australia Advances Legislation on Climate Disclosures, FMI Regime

By Ranamita Chakraborty | 27/08/2024

Treasurer Jim Chalmers said the AASB will release standards for the climate risk disclosure framework “in the near future”.