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Australia
ACCC Rejects ANZ-Suncorp Merger Deal Over Competition Concerns
By Manesh Samtani | 07/08/2023
The ACCC said a merger between Bendigo and Adelaide Bank and Suncorp would be a better outcome.
Enforcement
ASIC Sues Ex-Director of Dixon Advisory for Alleged Breach of Duty
By Sanday Chongo Kabange | 05/08/2023
ASIC alleges that Paul Ryan breached his director obligations by not considering the interests of Dixon Advisory’s creditors when the firm was approaching insolvency.
Enforcement
Australia’s Star Fined for Aiding Unlawful Credit Card Gambling
By Editors | 04/08/2023
Star Entertainment faces a $140,000 fine for facilitating illicit credit card gambling transactions and breaching exclusion orders.
Market Infrastructure
ASX Unveils Advisory Group to Navigate CHESS Replacement Project
By Editors | 04/08/2023
ASX established an Advisory Group to provide strategic advice and restore confidence in the beleaguered CHESS replacement project.
ESG / Sustainability
New Zealand XRB Sets Temporary GHG Assurance Standard
By Ranamita Chakraborty | 04/08/2023
From October 2024, climate reporting entities in New Zealand will need to use an internationally recognised assurance standard (ISAE or ISO) to obtain assurance over their greenhouse gas (GHG) emissions disclosures.
Enforcement
ASIC Sues eToro Over Retail Sales of High Risk CFD Products
By Sanday Chongo Kabange | 03/08/2023
ASIC says eToro’s target market was too broad for “such a high-risk and volatile trading product where most clients lose money”.
Enforcement
Australia High Court Calls for Higher Penalty in Foreign Bribery Case
By Editors | 03/08/2023
High Court justices rejected the A$1.35mn fine ordered in a foreign bribery case, deeming it insufficient.
AML / KYC
ACCC Permits Banks to Collaborate on Anti-Scam Standards
By Sanday Chongo Kabange | 03/08/2023
The ABA and its member banks are permitted to collaborate on the development of cross-industry standards to combat scams.
AFCA Consults on Approach to Responsible Lending Complaints
By Sanday Chongo Kabange | 03/08/2023
Two separate consultations are being released, one on general responsible lending practices and the other on appropriate lending to small businesses.
Enforcement
ASIC Warns of More Enforcements in the ‘Coming Months’
By Sanday Chongo Kabange | 03/08/2023
ASIC said it has embedded new data and analytics capabilities into its insider trading surveillance processes.
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