Australia

ESG / Sustainability

ASIC Urges Corporates to Start Preparing to Adopt ISSB Standards

By Ranamita Chakraborty | 15/06/2023

ASIC chair Joe Longo said the Treasury will publish plans for adopting the ISSB standards in Australia in the next two weeks.

Market Infrastructure

Australia to Reduce Red Tape Imposed on Financial Advisers

By Sanday Chongo Kabange | 14/06/2023

Assistant treasurer Stephen Jones said the reforms will be progressed in three streams, including allowing super funds to provide advice.

Market Infrastructure

ASIC Invites Regulated Entities to Assess Cyber Resilience

By Editors | 13/06/2023

ASIC’s cyber pulse survey will measure entities’ current cyber security and controls, governance arrangements, and incident preparedness.

ESG / Sustainability

APRA Adds Climate Change Risk to New Statement of Intent

By Editors | 12/06/2023

A key update is the explicit inclusion of climate-related financial risks as a consideration for APRA’s duties.

Crypto / Digital Assets

Commonwealth Bank to Restrict Payments To Crypto Exchanges

By Karen Ng | 09/06/2023

Caroline Bowler, head of BTC Markets, warns that the move could push crypto investors to overseas platforms that have fewer protections.

AML / KYC

NZ DIA Warns Real Estate Firm for AML Non-compliance

By Sanday Chongo Kabange | 09/06/2023

The warning is the second the DIA has issued to a real estate agent since the AML/CFT Act began applying to real estate agents in 2019.

Crypto / Digital Assets

Australia Issues New Strategic Plan for Payments System

By Manesh Samtani | 08/06/2023

A new licensing framework will be introduced, including for payment stablecoin issuers. RBA will explore fast payment links with other jurisdictions.

Enforcement

ACMA Fines CBA for Breaching Australia’s Spam Laws

By Sanday Chongo Kabange | 08/06/2023

CBA sent more than 65 million emails that did not comply with Australia’s spam laws, the ACMA said on Wednesday.

Fintech / Regtech

Australia Confirms it Will ‘Pause’ CDR Expansion Plan

By Sanday Chongo Kabange | 08/06/2023

Treasury is pausing plans to expand the CDR to the superannuation, insurance and telecommunications sectors.