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Australia
APRA Finalises Updates to EFS Reporting Standards
By Mark Johnston | 31/01/2024
The revised standards apply to reporting periods ending on or after 30 June. The updated Priority Listing for Data Items apply to reporting periods ending after 31 October.
Sanctions
Australia Commences Review of Autonomous Sanctions Regime
By Editors | 30/01/2024
The review will examine how the autonomous sanctions framework could better support the government’s foreign policy objectives.
Sanctions
US, UK Join Australia in Sanctioning Russian Cyber Attacker
By Mark Johnston | 24/01/2024
The US and UK took action “in solidarity with Australia” because of the similar risk Aleksandr Ermakov presents to both countries.
AML / KYC
Australia Scraps Golden Visa Programme in Immigration Overhaul
By Editors | 24/01/2024
The programme is being scrapped after the government found it was “delivering poor economic outcomes” and had failed to meet its core objectives.
Capital / Liquidity
RBNZ Consults on Proposals to Activate DTI Restrictions for Mortgage Lending
By Sanday Chongo Kabange | 23/01/2024
The RBNZ says DTI restrictions will allow the central bank to loosen the LVR settings without increasing risks to financial stability.
Sanctions
Australia Announces First Use of Cyber Sanctions Powers
By Editors | 23/01/2024
Australia imposed sanctions against Russian national Aleksandr Ermakov, who was linked to the 2022 Medibank breach.
Sanctions
US, UK, Australia Announce New Round of Hamas Sanctions
By Editors | 23/01/2024
OFAC said the sanctions target Hamas, its financiers, and its international financial infrastructure, including crypto transfers.
ASIC Allows Two Extra Weeks to Register Financial Advisers
By Sanday Chongo Kabange | 19/01/2024
AFS licensees have until 16 February to register their financial advisers. Providing personal advice to retail clients without registration will be subject to regulatory action.
Enforcement
Australian Court Fines ME Bank for Misleading Home Loan Customers
By Editors | 19/01/2024
ME Bank sent inaccurate home loan information to its customers and failed to provide written notice about annual interest rate and repayment amount changes.
Fintech / Regtech
Australia to Establish Risk-based Guardrails for AI Development
By Editors | 18/01/2024
The government will establish mandatory guardrails to promote the safe design, development and deployment of AI systems.
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