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Australia
New “Failure to Prevent Bribery” Offence before Australian Parliament
By Abigail McGregor | 07/07/2023
Abigail McGregor and Hoory Yeldizian explain the implications of a new law that will subject corporations to penalties if an associate engages in bribery.
Enforcement
ASIC Fines Openmarkets Record $4.5m for Compliance Failures
By Sanday Chongo Kabange | 06/07/2023
ASIC says Openmarkets did not carry out effective trade surveillance, and banned its former acting head of trading for three years.
Market Infrastructure
Australia Launches New Foreign Ownership Register
By Editors | 06/07/2023
Investors need to notify the new Register within 30 days after they acquire or dispose of an interest or there is a change of at least 5 percent in the interest.
Enforcement
FMA Imposes Permanent Stop Order on Validus International
By Sanday Chongo Kabange | 05/07/2023
The permanent stop order bars Validus and its associated persons from offering or promoting its financial products to New Zealanders.
Market Infrastructure
APRA Reveals Early Results from Cybersecurity Assessments
By Sanday Chongo Kabange | 05/07/2023
APRA identified six common control gaps in the first tranche of CPS 234 assessments, and offers recommendations to address them.
ESG / Sustainability
Australia: New Report Calls into Question Credibility of Corporate Reporting
By Editors | 05/07/2023
The poor quality of disclosure suggests that directors are not taking their responsibility seriously, said Professor Peter Carey at Deakin University.
Enforcement
APRA Fines BNK Banking Corp for Late Reporting of EFS Data
By Sanday Chongo Kabange | 04/07/2023
APRA said BNK Banking Corporation was 32 days late in filing statistical reports for the month ending 28 February 2023.
AML / KYC
AUSTRAC Spares Bell Financial from Further Regulatory Action
By Sanday Chongo Kabange | 03/07/2023
AUSTRAC received audit reports for three Bell Financial Group entities and decided not to undertake further regulatory action against them.
AML / KYC
Australia Launches New National Anti-Scam Centre
By Sanday Chongo Kabange | 02/07/2023
A ‘fusion cell’ is being set up within the NASC, led by the ACCC and ASIC, to target the effective disruption of investment scams.
Crypto / Digital Assets
RBNZ to Develop Monitoring Capabilities for Crypto Markets
By Sanday Chongo Kabange | 02/07/2023
The RBNZ is not planning to introduce a regulatory framework for cryptoassets until global best practice becomes clearer.
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