AUSTRALIA

APRA Confirms Plans to Publish Super Fund Expense Data

By Editors | 30/03/2024

Super fund data on director remuneration, travel and entertainment, payments to industrial bodies, and asset allocation will be published.

Australia Tables New Financial Advice Legislation in Parliament

By Sanday Chongo Kabange | 30/03/2024

The legislation is part of a broader package of reforms aimed at increasing the accessibility and affordability of financial advice.

ESG / Sustainability

ASIC Wins First Greenwashing Action Against Vanguard

By Sanday Chongo Kabange | 30/03/2024

The court found that Vanguard contravened the ASIC Act in its representations about the ESG exclusionary screens applied to one of its index funds.

Fintech / Regtech

NZ FMA Supports Use of Gen AI by Finance Sector

By Nithya Subramanian | 30/03/2024

Executive Director Daniel Trinder said the FMA would like to hear from firms about their use of GenAI to understand how risks are managed.

UK, Australia Sign Auditor Recognition Agreement

By Editors | 29/03/2024

Auditors with professional qualifications in either the UK or Australia can more easily apply for recognition in the other nation.

AML / KYC

Australian Senate Passes Digital Identity Bill

By Editors | 29/03/2024

The Bill will allow myGovID to be used by the private sector, and accredited private sector IDs to be used for some government services.

AML / KYC

FATF Re-rates Australia on Six Recommendations

By Mark Johnston | 29/03/2024

Australia was upgraded on five recommendations and downgraded on R.15 due to the limited scope of its regulatory regime for VASPs.

AML / KYC

Westpac Unveils “First of its Kind” Anti Scam Service

By Sanday Chongo Kabange | 28/03/2024

The AI-powered service will ask customers to answer a “series of dynamic questions” if a new payment appears to have high scam risk.

ESG / Sustainability

Australia Tables Bill to Introduce Climate Disclosures, Strengthen FMI Regime

By Sanday Chongo Kabange | 28/03/2024

The legislation will implement new mandatory climate reporting requirements and strengthen regulatory arrangements for FMIs.