Australia

Enforcement

ASIC Fines CLSA for Providing Incorrect Regulatory Data

By Sanday Chongo Kabange | 30/08/2024

The failures arose from a change to CLSA’s global order management system that was “not adequately scoped and tested” before implementation.

Fintech / Regtech

ASIC Launches Pilot Digital Portal for AFS Licensing

By Editors | 30/08/2024

The pilot involves a limited number of new AFSL applications before the new digital portal is fully adopted in Q1 2025.

AML / KYC

Europol, New Zealand Can Share Personal Data to Combat Crime

By Ranamita Chakraborty | 29/08/2024

A new agreement has entered into force that allows Europol and New Zealand authorities to exchange personal data to combat crime.

Market Infrastructure

Australia Issues New Anti-Foreign Bribery Guidance

By Sanday Chongo Kabange | 29/08/2024

The guidance sets out six elements that should be included by corporations in their anti-bribery compliance programmes.

Enforcement

New Zealand Court Fines TSB Bank for Overcharging Customers

By Sanday Chongo Kabange | 29/08/2024

The Commerce Commission took legal action against TSB Bank for overcharging 48,000 customers between 2015 and 2021.

Market Infrastructure

ASIC Revises Trade Reporting Rules to Adopt February Proposals

By Manesh Samtani | 29/08/2024

ASIC will adopt the ‘nexus’ test to determine the scope of foreign entity reporting and remove alternative reporting.

Enforcement

Austal and Australian Parent Settle US Fraud Charges for $24m

By Editors | 28/08/2024

Austal manipulated its financial results to avoid falling short of analyst expectations and mislead shareholders, the SEC and DOJ said.

Capital / Liquidity

APRA Sets Priorities for Ensuring Financial System Resilience

By Sanday Chongo Kabange | 28/08/2024

APRA’s new corporate plan aims to ensure the financial and operational resilience of regulated entities, while also responding to new risks.

Market Infrastructure

Australia Releases Terms for Banking Competition Review

By Editors | 28/08/2024

The review will examine how regulators can enable more proportionate regulation to improve the competitiveness of smaller banks.