Australia

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    Enforcement

    ASIC Issues Interim Stop Orders on Three BT Funds

    By Editors | 16/03/2023

    ASIC said the TMDs for three funds were “broadly drafted and failed to define key concepts” and did not meet the “appropriateness requirements” under the DDO regime.

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    Crypto / Digital Assets

    Crypto-related Crime in Australia: What Court Records Tell Us, and What Lies Ahead

    By Angela Ang | 16/03/2023

    Angela Ang considers findings from the first empirical study of crypto-related court cases in Australia, and what this means the crypto crime and enforcement landscape.

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    ESG / Sustainability

    New Zealand Considers Climate Reporting Exemptions for Secondary Listed Issuers

    By Sanday Chongo Kabange | 15/03/2023

    The exemptions seek to reduce compliance costs for foreign exempt issuers that already produce similar reporting in their home jurisdiction.

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    Enforcement

    Compensation for Poor Advice Reaches A$4.7b: ASIC

    By Editors | 14/03/2023

    As of end December, the major banks paid or offered to pay almost AUD 4.7 billion (USD 4.2 billion) in compensation to over 1.6 million customers.

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    Enforcement

    LBMA to Probe Perth Mint ‘Gold Doping’ Allegations

    By Editors | 14/03/2023

    Adverse findings under LBMA’s incident review process can result in refiners being struck off the Good Delivery List.

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    Crypto / Digital Assets

    NAB Completes First Cross-border Stablecoin Transaction

    By Editors | 14/03/2023

    NAB expects to be supporting select corporate and institutional clients to transact using digital assets by the end of 2023.

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    AML / KYC

    AUSTRAC Launches Specialist AML Unit for Gambling Sector

    By Editors | 13/03/2023

    AUSTRAC reportedly warned gambling industry officials it had “identified serious non-compliance in a number of businesses”.

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    Enforcement

    Australian Court Fines ANZ Over Introducer Programme

    By Editors | 13/03/2023

    ANZ received sensitive information or documents about borrowers from unlicenced third parties through its introducer programme.

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    Securities / Derivatives

    Australia to Commence Review of Managed Investment Schemes

    By Editors | 13/03/2023

    The review will consider enhancements to the MIS framework to identify gaps and reduce undue financial risk for investors.

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    Capital / Liquidity

    APRA Proposes Changes to Quarterly ADI Performance Publication

    By Editors | 10/03/2023

    The proposed changes are meant to align the QADIP publication with the new capital framework and ensure consistency with the ADICP.

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