Australia

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    AML / KYC

    ACCC Warns of Rising Bank Impersonation Scams in Australia

    By Editors | 30/03/2023

    Scammers can make their calls and texts appear as part of the same conversation thread as legitimate messages from a bank, the ACCC warns.

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    Enforcement

    ASIC Commences Probe into Regulatory Breaches by ASX

    By Sanday Chongo Kabange | 30/03/2023

    ASIC is investigating whether ASX breached the law in its oversight of and disclosures relating to the CHESS replacement programme.

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    ESG / Sustainability

    Vanguard Issued Warning in NZ for Late Disclosure of ASIC Action

    By Editors | 30/03/2023

    Vanguard took 55 business days to file a notice on New Zealand’s register about ASIC’s enforcement action. The requirement is 5 business days.

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    ESG / Sustainability

    “Clear Direction” on ESG in New Guidance for Australian Super Funds

    By ESG Investor | 29/03/2023

    APRA has cemented the importance of ESG in its guidance for superannuation funds on investment governance but needs to be clearer on terminology.

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    Crypto / Digital Assets

    Australia: Senator Introduces New Crypto Regulation Bill

    By Editors | 29/03/2023

    Senator Andrew Bragg said Australia’s crypto regulation has stalled and the government’s “token mapping” consultation programme is too slow.

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    ESG / Sustainability

    RBNZ Proposes New Guidance on Managing Climate Risk

    By Editors | 29/03/2023

    The guidance proposes that regulated entities develop their capabilities in climate-related scenario analysis and stress testing, outlining the RBNZ’s latest thinking on best practice.

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    Enforcement

    ASIC Fines ALT Financial Group for Failing To Lodge Financial Reports

    By Editors | 29/03/2023

    The fine was one of the largest ever issued by ASIC for failures to lodge financial reports. ALT Financial Group was convicted in absentia on 13 ASIC charges.

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    Australia Won’t Force Banks to Reimburse Scam Losses

    By Editors | 28/03/2023

    Minister Stephen Jones reportedly said compensation for scams should only be required if banks have not met consumer protection standards.

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    Capital / Liquidity

    APRA Stress Tests Reveal Banking System Strength

    By Editors | 28/03/2023

    APRA chairman John Lonsdale shared findings from its latest banking stress test and reviews on cyber preparedness and resilience.

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    ESG / Sustainability

    AFMA Updates Environmental Products Conventions

    By Editors | 28/03/2023

    AFMA revised its environmental products conventions to align with other conventions and clarify their non-mandatory nature.

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