Australia

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.

APRA, ASIC Issue Draft Rules for New Financial Accountability Regime

By Sanday Chongo Kabange | 20/07/2023

APRA and ASIC are consulting on the proposed regulator rules, ADI key functions and transitional rules to support the implementation of the new FAR.

APRA, ASIC Calls on Super Funds to Improve Retirement Outcomes for Members

By Sanday Chongo Kabange | 20/07/2023

APRA deputy chair Margaret Cole said there has been a lack of progress and insufficient urgency overall when it comes to implementation of the Retirement Income Covenant.

Crypto / Digital Assets

ASIC Cancels FTX Australia’s AFS Licence

By Sanday Chongo Kabange | 20/07/2023

FTX Australia may provide “limited financial services” related to termination of existing derivatives with clients until the end of 12 July 2024.