Australia

Enforcement

APRA Imposes Capital Charge on Pacific International Insurance

By Editors | 01/11/2024

APRA said it found oversight and control deficiencies in the insurer’s binder holder business and risk management framework.

Enforcement

ASIC Files Lawsuit Against Oak Capital Over Lending Model

By Sanday Chongo Kabange | 01/11/2024

ASIC alleges Oak Capital designed its lending model to avoid the application of the National Credit Code and Consumer Credit Act.

Sanctions

Australia Completes Review of Autonomous Sanctions Framework

By Editors | 31/10/2024

Most submissions to the review supported proposals to streamline the legal framework, improve the permit application process, and legislate a humanitarian exemption.

APRA Publishes Super Fund Expenditure Data for the First Time

By Sanday Chongo Kabange | 31/10/2024

The data shows significant spending on marketing and sponsorships, including hundreds of millions that went to the AFL and sports clubs.

Big Picture

ICMA Publishes Guide to Australian Repo Markets

By Editors | 31/10/2024

The Australian repo market has growth 75% from 2021 to mid-2024, driven by increased market participants, wider collateral use, and more active dealer trading.

Sanctions

New Zealand Launches Review of Russia Sanctions Act

By Editors | 31/10/2024

The review aims to assess the Act’s operation and effectiveness, focusing on its practicality, compliance costs, and achievement of its purpose.

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.