Australia

Enforcement

ACMA Fines CBA for Breaching Australia’s Spam Laws

By Sanday Chongo Kabange | 08/06/2023

CBA sent more than 65 million emails that did not comply with Australia’s spam laws, the ACMA said on Wednesday.

Fintech / Regtech

Australia Confirms it Will ‘Pause’ CDR Expansion Plan

By Sanday Chongo Kabange | 08/06/2023

Treasury is pausing plans to expand the CDR to the superannuation, insurance and telecommunications sectors.

AML / KYC

NZ DIA Lists Common Areas of AML Non-Compliance at DNFBPs

By Sanday Chongo Kabange | 07/06/2023

Common areas of non-compliance were identified from a review of 60 law firms, accounting practices and real estate agents.

Enforcement

ASIC Issues First DDO Stop Order Against CFD Distribution

By Sanday Chongo Kabange | 06/06/2023

ASIC said Mitrade Global relied on a retail investor questionnaire with “significant flaws”. The interim stop order was later revoked.

Enforcement

ASX Releases Reports on CHESS System to ASIC, RBA

By Sanday Chongo Kabange | 06/06/2023

ASX to keep CHESS operational until at least 2032. ASIC said it is prepared to take regulatory action to ensure ASX complies with its regulatory obligations.

Enforcement

PwC Australia Facing Loss of “Substantial” Government Contracts

By Editors | 06/06/2023

A number of government agencies, including ASIC, are reviewing contracts with PwC Australia over confidentiality breaches.

Enforcement

ASIC Reviewing Product Governance of BNPL Providers

By Sanday Chongo Kabange | 05/06/2023

ASIC issued an interim stop order against a BNPL product but revoked the order a day later due to “immediate corrective action” by the provider.

Fintech / Regtech

Updated ePayments Code Takes Effect in Australia

By Sanday Chongo Kabange | 05/06/2023

The updated ePayments Code strengthens protections for consumers and obliges banks to help customers recover money that has been transferred in error.

Enforcement

ASIC Issues First Stop Order on Superannuation Product

By Sanday Chongo Kabange | 04/06/2023

The interim stop orders were made against Spaceship Super and three managed funds promoted by Spaceship Capital due to deficient TMDs.