Australia

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    Enforcement

    APRA Investigating Super Fund Payments to Unions

    By Editors | 04/06/2023

    APRA chairman John Lonsdale told lawmakers the regulator has an “appetite to take enforcement” where it is needed.

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    Fintech / Regtech

    ASIC to Leverage Regtech to Improve Listed Company Disclosures

    By Sanday Chongo Kabange | 02/06/2023

    ASIC and regtech firm Eastern Analytica will jointly develop a solution to help address poor market disclosures by listed firms.

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    AML / KYC

    NZ’s Ministry of Justice Releases Amended AML Regulations

    By Editors | 01/06/2023

    From 1 June 2024, new obligations will be imposed on reporting entities related to virtual asset transfers, deposits, withdrawals, and exchange.

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    Fintech / Regtech

    Australia Seeks Public Views on Policy Response to AI

    By Editors | 01/06/2023

    The consultation will “help ensure Australia continues to support responsible AI practices to increase community trust and confidence,” the government said.

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    ASIC Postpones Deadline for Financial Adviser Registration

    By Ranamita Chakraborty | 31/05/2023

    The new October deadline will allow parliament to consider improvements to the registration process already proposed in legislation, ASIC said.

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    AML / KYC

    Perth Mint Misses AUSTRAC Deadline, CEO Resigns

    By Editors | 31/05/2023

    The delay was attributed to the complexity of the audit and the challenges in gathering the required information.

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    Capital / Liquidity

    APRA, AUSTRAC Enter Enforceable Undertakings With BoQ

    By Editors | 31/05/2023

    For APRA’s enforceable undertaking, Bank of Queensland has to set aside an extra A$50mn in regulatory capital.

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    AML / KYC

    Australia: Crown Agrees to A$450m Penalty for AML Failures

    By Editors | 31/05/2023

    Crown admitted to AML/CTF breaches at its Melbourne and Perth casinos and agreed to pay A$450mn, subject to court approval.

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    AML / KYC

    SkyCity Adelaide Ordered to Review AML/CTF Programme

    By Editors | 30/05/2023

    SkyCity Adelaide ordered to report on how it is meeting its AML/CTF obligations, and appoint an independent monitor.

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    Market Infrastructure

    RBA Publishes Findings from Payments Infrastructure Review

    By Sanday Chongo Kabange | 30/05/2023

    The external review was conducted by Deloitte in response to a four-hour outage suffered by the RBA in October 2022.

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