Australia

Enforcement

ASIC Issues First DDO Stop Order Against CFD Distribution

By Sanday Chongo Kabange | 06/06/2023

ASIC said Mitrade Global relied on a retail investor questionnaire with “significant flaws”. The interim stop order was later revoked.

Enforcement

ASX Releases Reports on CHESS System to ASIC, RBA

By Sanday Chongo Kabange | 06/06/2023

ASX to keep CHESS operational until at least 2032. ASIC said it is prepared to take regulatory action to ensure ASX complies with its regulatory obligations.

Enforcement

PwC Australia Facing Loss of “Substantial” Government Contracts

By Editors | 06/06/2023

A number of government agencies, including ASIC, are reviewing contracts with PwC Australia over confidentiality breaches.

Enforcement

ASIC Reviewing Product Governance of BNPL Providers

By Sanday Chongo Kabange | 05/06/2023

ASIC issued an interim stop order against a BNPL product but revoked the order a day later due to “immediate corrective action” by the provider.

Fintech / Regtech

Updated ePayments Code Takes Effect in Australia

By Sanday Chongo Kabange | 05/06/2023

The updated ePayments Code strengthens protections for consumers and obliges banks to help customers recover money that has been transferred in error.

Enforcement

ASIC Issues First Stop Order on Superannuation Product

By Sanday Chongo Kabange | 04/06/2023

The interim stop orders were made against Spaceship Super and three managed funds promoted by Spaceship Capital due to deficient TMDs.

Enforcement

APRA Investigating Super Fund Payments to Unions

By Editors | 04/06/2023

APRA chairman John Lonsdale told lawmakers the regulator has an “appetite to take enforcement” where it is needed.

Fintech / Regtech

ASIC to Leverage Regtech to Improve Listed Company Disclosures

By Sanday Chongo Kabange | 02/06/2023

ASIC and regtech firm Eastern Analytica will jointly develop a solution to help address poor market disclosures by listed firms.

AML / KYC

NZ’s Ministry of Justice Releases Amended AML Regulations

By Editors | 01/06/2023

From 1 June 2024, new obligations will be imposed on reporting entities related to virtual asset transfers, deposits, withdrawals, and exchange.