AUSTRALIA

Enforcement

ASIC Fines Ascot Securities for Failure to Detect Suspicious Trades 

By Editors | 21/06/2024

Ascot Securities should have suspected a client’s orders were manipulative, ASIC’s Markets Disciplinary Panel said.

NZ FMA Issues New Auditor Regulation and Oversight Plan

By Sanday Chongo Kabange | 21/06/2024

By ensuring a high standard of auditing we aim to increase investor confidence in the quality of the audited financial statements of reporting entities, the FMA said.

Super Funds Have More Work to Do on Valuation Governance: APRA

By Editors | 21/06/2024

APRA wrote to super fund trustees asking them to improve their valuation governance practices for unlisted assets, as required by SPS 530.

New Zealand Working to Improve KiwiSaver Scheme

By Editors | 20/06/2024

Recommendations for improving KiwiSaver include the introduction of a “default” contribution rate that is higher than the minimum.

Australia to Improve Outcomes for Home Loan Borrowers

By Editors | 20/06/2024

Reforms will make it easier to switch to better mortgage deals. A new review was launched to find ways to support additional competition in the banking sector.

ESG / Sustainability

Australia Publishes New Sustainable Finance Roadmap

By Sanday Chongo Kabange | 20/06/2024

The roadmap says mandatory climate-related financial disclosure requirements will commence for large companies and FIs from 1 January 2025.

AML / KYC

National Risk Assessment Reinforces Need for AML Reforms: AUSTRAC CEO

By Editors | 20/06/2024

AUSTRAC CEO Brendan Thomas said the need to respond to the vulnerabilities posed by professional services firms is now “more critical than ever”.

ESG / Sustainability

New Zealand Issues Guidance for Users of Climate Statements

By Sanday Chongo Kabange | 19/06/2024

The new guides are intended to help users such as investors and lenders to understand the CRD regime and the information provided in climate statements.

Securities / Derivatives

NZX Proposes to Relax Market Maker Eligibility Requirements

By Editors | 19/06/2024

NZX proposes to allow non-trading participants to become designated market makers to support increased liquidity and market efficiency.