AUSTRALIA

Market Infrastructure

Australia Consults on Regulations for Big Four Auditors

By Editors | 07/05/2024

Treasury is seeking views on stronger powers for the ATO and TPB and regulations for accounting, audit and consulting firms.

Securities / Derivatives

NZX Issues Consultation on Director Independence Settings

By Editors | 06/05/2024

NZX is undertaking a detailed review of its corporate governance settings relating to director independence.

Capital / Liquidity

NZ Treasury Consults on Funding for Depositor Compensation

By Editors | 06/05/2024

The consultation paper seeks feedback on the funding strategy for the Depositor Compensation Scheme.

ESG / Sustainability

ASIC Has Greenwashing “In Its Sights”, Says Chair Joe Longo

By Nithya Subramanian | 06/05/2024

Joe Longo said ASIC will take action when there’s an “unreasonable lack of diligence” or “carelessness” by regulated entities that “should know better”.

AML / KYC

New Zealand Regulators Issue Updated CDD Guidelines

By Editors | 03/05/2024

Updated guidelines on beneficial ownership, company CDD, and enhanced CDD. New guideline on CDD for limited partnerships.

AML / KYC

Australia: Scam Losses Fall for the First Time in Six Years

By Manesh Samtani | 03/05/2024

In its latest report on annual scam activity, the ACCC highlighted government and industry initiatives that led to lower scam losses in 2023.

Enforcement

Australian Court Rules in ASIC’s Favour in ‘Qoin Wallet’ Case

By Editors | 03/05/2024

The ruling is the first court outcome against a non-cash payment facility involving crypto, ASIC’s Joe Longo noted.

AML / KYC

Australia Consults on Anti-Foreign Bribery Guidance

By Editors | 03/05/2024

The consultation follows the passage of legislation in February to introduce the new “failure to prevent” foreign bribery offence.

Market Infrastructure

Australia Publishes Details on Reforms to Foreign Investment Regime

By Sanday Chongo Kabange | 03/05/2024

Greater scrutiny will apply to foreign investments in sensitive sectors. Passive investors with a strong track record would receive less scrutiny.