Australia

ESG / Sustainability

NZ FMA Issues Guidance on Climate-related Scenario Analysis

By Sanday Chongo Kabange | 19/07/2023

The information sheet offers guidance on the disclosures firms have to make about the methods and assumptions underlying their scenario analysis and how the process has been conducted.

Enforcement

Deloitte Australia’s CEO Admits to Being Overpaid in Public Hearing

By Editors | 19/07/2023

Deloitte Australia’s CEO Adam Powick told a Senate committee his position is not worth a salary that is seven times that of the prime minister’s.

AML / KYC

NAB Blocks Payments to “High-risk” Cryptocurrency Platforms

By Editors | 18/07/2023

NAB will initially block “several” cryptocurrency exchanges that it has concerns with, but this could be expanded further in future.

Enforcement

Australia: Big 4 Accused of Operating ‘Beyond the Law’

By Editors | 18/07/2023

Former KPMG partner Brendan Lyon called for changes in how the accounting profession is regulated to restore public trust and ensure integrity in financial reporting.

Crypto / Digital Assets

ASX Receives Application to List Retail Spot Bitcoin ETF

By Jill Wong | 18/07/2023

ASX has received its first application to list a spot Bitcoin ETF to retail investors under the cryptocurrency regulations issued in October 2021.

Market Infrastructure

APRA Finalises New Cross-industry Standard on Operational Risk

By Sanday Chongo Kabange | 17/07/2023

Boards should pay particular attention to ventures that may give rise to material or novel operational risks, including activities associated with crypto assets.

ESG / Sustainability

Australia to Tighten Greenwashing Rules on Consumer Businesses

By Ranamita Chakraborty | 17/07/2023

The Australian Competition and Consumer Commission is currently seeking feedback on its newly issued draft guidance which clarifies obligations under Australian consumer law for businesses making environmental claims.

Fintech / Regtech

ASIC to Host Industry Roundtable on CHESS Replacement Project

By Editors | 17/07/2023

ASIC chair Joe Longo will chair an industry roundtable on 2 August to discuss a proposed CHESS replacement solution.

APRA Needs to Strengthen Superannuation Regulation: FRAA Review

By Ranamita Chakraborty | 17/07/2023

The Australian Prudential Regulation Authority (APRA) has welcomed the release of the Financial Regulator Assessment Authority (FRAA)’s review report on its effectiveness and capability in supervising and resolving issues in the superannuation sector.