Australia

ESG / Sustainability

ASIC Urges Businesses to Prepare for Climate Disclosure Regime

By Thisanka Siripala | 23/09/2024

ASIC will take a “proportional and pragmatic approach to supervision and enforcement” as the industry adjusts to the new requirements.

Market Infrastructure

ASIC Issues Guidance on Identifying Critical Business Services

By Thisanka Siripala | 21/09/2024

ASIC found deficiencies in how market participants are identifying critical business services and notifying the regulator of potentially disruptive events.

ASIC Issues Revised Guidelines for Foreign Firms in Australia

By Thisanka Siripala | 20/09/2024

The revised regulatory guide explains when a foreign entity must obtain an AFS licence, and what the licence obligations entail.

Australia Releases New Details on “Payday Super” Reforms

By Thisanka Siripala | 20/09/2024

Employers will have 7 days from payday to make employee super contributions. Super funds will have 3 business days to allocate those contributions.

Crypto / Digital Assets

Australia Launches Three Year Digital Money Roadmap

By Thisanka Siripala | 19/09/2024

The RBA has decided to prioritise the development of wholesale CBDC rather than retail CBDC. Next month it will launch a “public phase” of its wholesale CBDC project.

AML / KYC

AUSTRAC Encouraging Flexibility for Customers Without Standard ID

By Thisanka Siripala | 19/09/2024

AUSTRAC clarifies that alternative identification procedures are encouraged when customers cannot easily obtain or access standard forms of ID.

Market Infrastructure

ASIC Publishes Guidance on New Derivatives Reporting Regime

By Manesh Samtani | 19/09/2024

The guidance is intended to help reporting entities understand how to comply with the new reporting obligations which take effect on 21 October 2024.

Australia Consults on Streamlined Investment Process for Major Projects

By Thisanka Siripala | 18/09/2024

The so-called ‘Front Door’ initiative aims to make it simpler and quicker for investment capital to flow into “major, transformational projects” in the country.

Australia to Proceed With Changes to Tax Agent Code of Conduct

By Thisanka Siripala | 18/09/2024

The government has agreed to revise some of the amendments to the code in response to a lobbying effort from the industry.