Australia

NAB Introduces New Security Measure to Combat Scams

By Sanday Chongo Kabange | 31/03/2023

NAB customers may receive a prompt when engaging in unusual transactions, such as investing in crypto for the first time.

Capital / Liquidity

NobleOak Life Breached Capital Requirements, Says APRA

By Editors | 31/03/2023

APRA said breaches are being remediated and are not connected to any recent financial market movements or developments.

AML / KYC

ACCC Warns of Rising Bank Impersonation Scams in Australia

By Editors | 30/03/2023

Scammers can make their calls and texts appear as part of the same conversation thread as legitimate messages from a bank, the ACCC warns.

Enforcement

ASIC Commences Probe into Regulatory Breaches by ASX

By Sanday Chongo Kabange | 30/03/2023

ASIC is investigating whether ASX breached the law in its oversight of and disclosures relating to the CHESS replacement programme.

ESG / Sustainability

Vanguard Issued Warning in NZ for Late Disclosure of ASIC Action

By Editors | 30/03/2023

Vanguard took 55 business days to file a notice on New Zealand’s register about ASIC’s enforcement action. The requirement is 5 business days.

ESG / Sustainability

“Clear Direction” on ESG in New Guidance for Australian Super Funds

By ESG Investor | 29/03/2023

APRA has cemented the importance of ESG in its guidance for superannuation funds on investment governance but needs to be clearer on terminology.

Crypto / Digital Assets

Australia: Senator Introduces New Crypto Regulation Bill

By Editors | 29/03/2023

Senator Andrew Bragg said Australia’s crypto regulation has stalled and the government’s “token mapping” consultation programme is too slow.

ESG / Sustainability

RBNZ Proposes New Guidance on Managing Climate Risk

By Editors | 29/03/2023

The guidance proposes that regulated entities develop their capabilities in climate-related scenario analysis and stress testing, outlining the RBNZ’s latest thinking on best practice.

Enforcement

ASIC Fines ALT Financial Group for Failing To Lodge Financial Reports

By Editors | 29/03/2023

The fine was one of the largest ever issued by ASIC for failures to lodge financial reports. ALT Financial Group was convicted in absentia on 13 ASIC charges.