Australia

    image

    ACCC Issues Paper Seeks View on Banks’ Rate-setting Practices

    By Editors | 24/04/2023

    ACCC chair says the inquiry will closely examine how banks make decisions on interest rates and any barriers consumers face in getting a better deal.

    image

    ESG / Sustainability

    Australia to Introduce Green Financing Programme in 2024

    By ESG Investor | 23/04/2023

    Sovereign Green Bonds programme to attract green capital to Australia through increasing transparency around climate outcomes and availability of green investments.

    image

    Market Infrastructure

    RBA to Undergo Overhaul Following Comprehensive Review

    By Editors | 21/04/2023

    The review report suggests splitting the RBA’s board into a monetary board and a corporate governance board.

    image

    AML / KYC

    Australia Opens Consultation on ‘Tranche 2’ AML Reforms

    By Sanday Chongo Kabange | 21/04/2023

    The proposed reforms will extend the AML/CTF regime to lawyers, accountants, trust and company service providers, real estate agents, and dealers in precious metals and stones.

    image

    ACCC Defers Decision on ANZ-Suncorp Merger to End-July

    By Editors | 20/04/2023

    The timeframe can be extended if applicants agree. ANZ agreed to an ACCC request to extend the review period from 12 June to 28 July.

    image

    AML / KYC

    ASIC Calls on Banks to Reconsider Approach to Scams

    By Editors | 20/04/2023

    Only 13 percent of scam payments made by customers were detected and stopped by the big four banks. Customers were “overwhelmingly” the bearer of scam losses.

    image

    Crypto / Digital Assets

    Australia Considers Outright Ban on Ransom Payments

    By Mark Johnston | 19/04/2023

    The ACSC recommends that victims of ransomware attacks never pay a ransom. The government is considering a law prohibiting attack victims from paying ransoms.

    image

    Australia Consults on Bill to Lower Entry Barriers in Advice Industry

    By Editors | 19/04/2023

    Financial advisers with ten years experience and a clean disciplinary record will be deemed to have met the education requirements.

    image

    AML / KYC

    Australia Saw 80pc YoY Jump in Scam Losses in 2022

    By Editors | 18/04/2023

    Australians lost more to scams than ever before in 2022. Losses per victim rose by more than 50% to an average of almost A$20,000.

    image

    AML / KYC

    Australia Revisits ‘Tranche 2’ AML Reforms – Report

    By Editors | 17/04/2023

    The government is expected to settle its position on AML reforms this month that could cover the real estate, accounting and legal professions.

    JOIN OUR NEWSLETTER

    An exclusive weekly selection of top stories from the Regulation Asia editorial team.