Australia

AML / KYC

UK and Australia Illicit Financing Co-ordination Dialogue

By Editors | 27/07/2023

High-level dialogue between UK and Australia reaffirms commitment to combat illicit financing and corruption.

Enforcement

ASIC Lodges Court Action Against Vanguard for Alleged Greenwashing

By Editors | 26/07/2023

ASIC said Vanguard falsely claimed the index it used excluded issuers with significant business activities involving fossil fuels.

FMA Starts Accepting Licence Applications Under CoFI Regime

By Ranamita Chakraborty | 26/07/2023

The FMA urges firms to prepare their applications “as early as possible” to ensure they can continue providing services after 31 March 2025.

Crypto / Digital Assets

Westpac and CBA Pilot Test Digital Australian Dollar

By Editors | 25/07/2023

Westpac and CBA used a CBDC to execute trades with certificates of deposit. Imperium Markets hosted the trades on its marketplace.

AML / KYC

Australia’s New Anti-Scam Centre Holds First Advisory Board Meeting

By Editors | 24/07/2023

The Advisory Board agreed to develop a naming convention for scams that will underpin the data sharing and analytics needed to disrupt scams.

Capital / Liquidity

APRA Finalises Guidance on Super Fund Investment Governance

By Editors | 23/07/2023

The guidance covers liquidity management, stress testing, valuation practices, and ESG expectations.

Fintech / Regtech

Australia Approves Final Operational Enhancements To CDR Rules

By Sanday Chongo Kabange | 22/07/2023

Assistant treasurer Stephen Jones says the operational enhancements to the CDR rules will keep small business and customer data safer.

Enforcement

NZ Court Imposes Highest Ever Penalties for Market Manipulation

By Sanday Chongo Kabange | 21/07/2023

Two former senior executives of  Oceania Natural Ltd were ordered to pay a combined N$2.09mn for market manipulation.

Sanctions

Western Allies Announce New Sanctions to Deter Russia

By Manesh Samtani | 21/07/2023

US sanctions include Russian metal producers and financial institutions. Canada targeted Russia’s military-industrial complex. UK, Australia and EU also have new targets.