Australia

Securities / Derivatives

Regulatory Review Finds Gaps in New Zealand’s DIMS Sector

By Thisanka Siripala | 28/10/2024

The review identified issues with disclosure practices, conflict of interest policies, and liquidity management at some discretionary investment management providers.

AML / KYC

Australia to Create Streamlined Process for Scam Victims to Seek Redress

By Mark Johnston | 25/10/2024

AFCA will operate an external dispute resolution scheme for scam victims to seek compensation from banks, telcos and digital platforms.

Capital / Liquidity

APRA Amends Operational Risk Financial Requirement for Super Funds

By Thisanka Siripala | 25/10/2024

The amendments to the operational risk financial requirement (ORFR) under SPS 114 will take effect from 1 July 2025, to align with CPS 230.

Securities / Derivatives

NZX Amends Market Maker Eligibility Settings, Effective 22 Nov

By Editors | 25/10/2024

From 22 November, firms will be able to participate as market makers without being direct trading participants of NZX.

Enforcement

ASIC Sues Australia’s Largest Insurer for Overcharging Premiums

By Thisanka Siripala | 25/10/2024

QBE Insurance promised certain discounts on premiums that were not properly applied, leading to higher-than-expected premiums for many policyholders.

Fintech / Regtech

Australia Issues Framework for Addressing Real-world Impacts of AI

By Thisanka Siripala | 24/10/2024

The AI Impact Navigator aims to assist businesses in measuring, managing, and reporting the real-world impacts of their AI systems.

Fintech / Regtech

Australia Launches Cyber Resilience Service for Small Businesses

By Thisanka Siripala | 24/10/2024

The service, operated by IDCARE, will offer one‑on‑one assistance to help small businesses navigate cyber challenges and bolster their cyber resilience.

Enforcement

APRA to Intensify Scrutiny of Super Fund Expenditures

By Thisanka Siripala | 24/10/2024

RSE licensees will have to demonstrate how they determine that expenditures are in members’ best interests and how they are related to enhancing performance.

Fintech / Regtech

Australia DTA Releases Results of GenAI Trials in Government

By Sanday Chongo Kabange | 24/10/2024

The DTA says the insights obtained from the trial will inform the ongoing safe and responsible adoption of GenAI across the Australian public service.