AUSTRALIA

AML / KYC

NZ DIA, SkyCity Reach Settlement Over AML Breaches

By Sanday Chongo Kabange | 22/05/2024

A penalty of NZD 4.16 million was proposed to the court to settle SkyCity’s liability over the AML breaches.

AML / KYC

NZ Regulators Endorse New AML/CFT Supervisory Approach

By Sanday Chongo Kabange | 22/05/2024

The DIA, FMA and RBNZ say changes to the AML/CFT requirements will ensure New Zealand is meeting global AML/CFT standards.

Sanctions

Australia, UK Join Allies in Targeting DPRK-Russia Arms Trade

By Editors | 18/05/2024

Australia targeted six entities while the UK targeted three companies and one individual for their involvement in North Korea-Russia arms trade.

AML / KYC

AUSTRAC, SkyCity Propose A$67m Settlement to Court

By Editors | 17/05/2024

A hearing date has been set for 7 June 2024 for the court to consider the settlement jointly proposed by AUSTRAC and SkyCity Adelaide.

Market Infrastructure

Australia Advances Work to Improve Competition in Clearing, Settlement

By Editors | 17/05/2024

A new legislative instrument will empower ASIC to make rules to improve competition in clearing and settlement services.

Sanctions

New Zealand Announces New Round of Russia Sanctions

By Editors | 17/05/2024

28 individuals and 14 entities were sanctioned for providing military and strategic support for Russia’s war in Ukraine.

AML / KYC

Australia’s Digital ID Bill Passes House of Representatives

By Mark Johnston | 16/05/2024

The scheme will soon extend to state and territory governments, with the private sector to follow within two years.

Enforcement

ASIC Issues Guidance for Unlicensed Entities Soliciting Advice

By Sanday Chongo Kabange | 16/05/2024

The guidance warns of penalties for unlicensed entities that make unsolicited contact with consumers and refer them to third parties for financial advice.

Capital / Liquidity

RBNZ Proposes “Core Standards” for New DTA Regime

By Sanday Chongo Kabange | 16/05/2024

The proposed core standards cover capital, liquidity, disclosure, and DCS-related requirements.