Australia

Payments & Settlements

ANZ Expands Cross-border Payments Service to More Banks

By Sanday Chongo Kabange | 19/12/2024

The service will allow more than 400 international banks to route inbound cross-border payments through Australia’s NPP.

Trading & Investment

New Zealand Proposes Measures to Boost Capital Market

By Manesh Samtani | 19/12/2024

The measures will make it easier for KiwiSaver funds to invest in unlisted assets, and improve the attractiveness and ease of listing on NZX.

Operational Risk

APRA Identifies Valuation Governance Weaknesses at Super Funds

By Sanday Chongo Kabange | 18/12/2024

APRA said superannuation trustees need to further enhance their valuation and liquidity risk management practices.

Reporting & Disclosures

New Zealand FMA Censures Pathfinder for Misleading Representations

By Sanday Chongo Kabange | 18/12/2024

The FMA said Pathfinder Asset Management should have included information in social media ads about exceptions permitted by its ethical investment policy

Data Privacy

Australia Settles Meta Lawsuit Over Cambridge Analytica Scandal

By Sanday Chongo Kabange | 18/12/2024

Meta agreed to pay A$50 million to compensate Australian Facebook users who had their personal information disclosed without consent.

Cryptocurrency

ASIC Sues Binance Over Misclassification of Retail Clients

By Editors | 18/12/2024

Binance offered crypto derivative products to over 500 Australian retail investors who were misclassified as wholesale clients.

AI Risk & Governance

Singapore, Australia Sign MOU to Expand Cooperation on AI

By Editors | 18/12/2024

Singapore’s Josephine Teo said the MOU opens new doors for AI collaboration across research institutes, businesses and government.

Anti-Money Laundering

AUSTRAC Sues Online Betting Site Operator Entain for AML Breaches

By Sanday Chongo Kabange | 17/12/2024

AUSTRAC CEO said the failures in Entain’s approach to its AML/CTF obligations were “systemic” and “left the company at serious risk of criminal exploitation”

Anti-Money Laundering

AUSTRAC Sets AML/CTF Improvement Priorities for Reporting Entities

By Sanday Chongo Kabange | 17/12/2024

AUSTRAC said wider board involvement is needed on ML/TF matters and firms should use tailored rules and triggers to prioritise high-risk investigations.