Australia

Fintech / Regtech

Westpac to Expand Anti-Scam Feature to Institutional Clients

By Sanday Chongo Kabange | 28/08/2024

Westpac’s institutional and government clients will be able to run a check on payee details before making payments.

Fintech / Regtech

CBA, BNY Enable Real-Time Cross-Border Payments

By Sanday Chongo Kabange | 27/08/2024

The new arrangement enables the AUD leg of inbound cross-border payments to be processed in under a minute.

AML / KYC

Australia Passes Legislation for SMS Sender ID Register

By Sanday Chongo Kabange | 27/08/2024

The register will allow telcos to block messages being sent under a brand name that don’t correspond with the legitimate sender.

ESG / Sustainability

Australia Advances Legislation on Climate Disclosures, FMI Regime

By Ranamita Chakraborty | 27/08/2024

Treasurer Jim Chalmers said the AASB will release standards for the climate risk disclosure framework “in the near future”.

Crypto / Digital Assets

Australian Court Rules Kraken Violated Regulatory Requirements

By Sanday Chongo Kabange | 26/08/2024

The court ruled that the crypto firm failed to comply with design and distribution obligations when offering a margin trading product.

Enforcement

ASIC Sets Out Strategic Priorities in New Corporate Plan

By Sanday Chongo Kabange | 26/08/2024

ASIC is taking aim at Australia’s private markets, which Chair Joe Longo said present an outsized risk to market integrity.

ESG / Sustainability

ASIC Publishes Findings from Anti-Greenwashing Surveillance

By Sanday Chongo Kabange | 26/08/2024

ASIC published findings, recommendations and good practice examples from its surveillance activities during the financial year 2023–2024.

Capital / Liquidity

APRA Increases Capital Add-on Imposed on ANZ Bank

By Sanday Chongo Kabange | 23/08/2024

APRA said several issues emerging in ANZ’s markets business have increased its “longstanding concerns” about the bank’s non-financial risk management.

Enforcement

NZ Court Fines Ex-Insurer for Disclosure Breaches

By Sanday Chongo Kabange | 23/08/2024

The High Court ordered former CBLC Managing Director Peter Harris to pay NZD 1.4 million for breaching financial market rules in a case brought by the FMA.