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Australia
Fraud, Scams & Cybercrime
Australian Lawmakers Call for Reforms to Address Financial Abuse
By Thisanka Siripala | 07/12/2024
Parliamentary report calls for legislative reforms and for FIs to play a proactive role in identifying and supporting individuals facing financial abuse
PEPs & Sanctions
China Lifts Remaining Restrictions on Australian Red Meat Imports
By Editors | 06/12/2024
Over the last two years, China has been lifting restrictions on Australian export commodities that started in 2020 amid rising tensions between the two countries.
Conduct, Culture & Accountability
ASIC Calls Out Breach Reporting Delays & Deficiencies
By Thisanka Siripala | 06/12/2024
A review of the compliance arrangements of 14 licensees identified delays and deficiencies in how they identify, escalate, and report breaches.
Anti-Money Laundering
AUSTRAC to Crack Down on Non-compliant Crypto ATM Providers
By Editors | 06/12/2024
AUSTRAC has established an internal taskforce to target crypto ATMs that are being exploited for money laundering, scams and money mule activities.
Conduct, Culture & Accountability
ASIC Publishes Industry Complaints Data for the First Time
By Sanday Chongo Kabange | 05/12/2024
ASIC says over 4.7 million complaints reported indicate that some financial firms may not be reporting complete and accurate IDR data.
Structural Regulation
Australia Passes Bill to Enshrine Superannuation Objective into Law
By Editors | 05/12/2024
Any future changes to super legislation must be judged against the objective, making policymakers more accountable when considering such changes.
Fraud, Scams & Cybercrime
Australia Directs ACMA to Operate ‘Mandatory’ SMS Sender ID Register
By Sanday Chongo Kabange | 05/12/2024
The ACMA is directed to develop an enforceable industry standard for a mandatory ‘SMS Sender ID Register’ to protect against scams.
Cryptocurrency
ASIC Seeks Feedback on Updated Guidance for Digital Assets
By Thisanka Siripala | 05/12/2024
ASIC proposes to regulate digital assets like traditional financial products, requiring crypto firms to apply for an AFS licence.
Clearing & Post-Trade
ASX Proposes Changes to Default Management Rules
By Editors | 04/12/2024
ASX proposes amendments to enable ASX Clear to auction off a defaulted clearing participant’s cash and derivatives market positions.
Reporting & Disclosures
New Zealand FMA Reviews First Climate Statements under CRD Regime
By Sanday Chongo Kabange | 04/12/2024
The FMA is “encouraged” by the first climate statements filed by climate reporting entities and acknowledges the challenges they face.
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