Australia

Enforcement

Australia, New Zealand to Jointly Investigate Data Breach

By Editors | 15/05/2023

The probe into Latitude’s data breach is the first joint privacy investigation by Australia and New Zealand authorities.

Enforcement

ASIC to ‘Sharpen Focus’ on Misconduct by Credit Providers

By Editors | 11/05/2023

Deputy chair Sarah Court said credit providers and debt management firms that take advantage of vulnerable consumers are in ASIC’s sights.

ESG / Sustainability

ASIC Offers Guidance on Avoiding Greenwashing Penalties

By Editors | 11/05/2023

ASIC has taken 35 actions against greenwashing since July 2022. It has several other investigations underway and anticipates further regulatory action.

AML / KYC

Australia Budget Offers Funding for AML, Scams, Cyber

By Manesh Samtani | 10/05/2023

Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.

Market Infrastructure

RBNZ Proposes to Collect More Data on Cyber Incidents

By Editors | 09/05/2023

The RBNZ proposes to introduce mandatory reporting of all material cyber incidents within 72 hours, and periodic reporting of non-material incidents.

Enforcement

Australia: Medibank Faces Four Class Actions Over October Cyberattack

By Editors | 09/05/2023

The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.

ESG / Sustainability

New Zealand XRB Issues New Guidance on Climate-related Disclosures

By Editors | 08/05/2023

The guidance aims to support entities in preparing climate-related disclosures and to foster consistency through “clarity of understanding”.

ASIC Revises Implementation Approach for IDR Data Reporting

By Sanday Chongo Kabange | 08/05/2023

97 large financial firms started reporting IDR data early this year. 260 firms will have to start reporting by August 2023. The remaining firms will have until 29 February 2024.

ESG / Sustainability

Investors Welcome New Australian Net Zero Authority

By ESG Investor | 07/05/2023

The authority will co-ordinate decarbonisation opportunities across the economy, supporting efficient allocation in key sectors.