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Securities / Derivatives
NZ FMA Concerned Over Retail Involvement in Stock Lending
By Editors | 09/09/2022
The FMA says investors should make sure the risks and returns are properly explained before they allow their shares to be lent out.
Australia to Reverse Regulations for Litigation Funders
By Editors | 09/09/2022
Litigation funding schemes will regain exemptions from requirements to hold an AFS licence and be subject to the same regulations as managed investment schemes.
Crypto / Digital Assets
Australia Clarifies Crypto is Not Taxed as Foreign Currency
By Editors | 08/09/2022
The proposed legislation removes uncertainty regarding whether Bitcoin may be treated as a ‘foreign currency’ for income tax purposes.
Enforcement
Australia: ABN AMRO Penalised Over Block Trading Rule Breach
By Editors | 08/09/2022
ABN AMRO Clearing Sydney registered ASX SPI 200 Futures block trades that included split allocations below the Minimum Value Threshold.
Australian Treasury Commences Review of Superannuation Reforms
By Editors | 08/09/2022
Australia’s Treasury said it is looking to identify unintended consequences and implementation issues arising from the YFYS laws passed in 2021.
Capital / Liquidity
APRA Proposes Guidance on Contingency, Resolution Planning
By Editors | 07/09/2022
The prudential practice guides on financial contingency and resolution planning will be finalised in H1 2023 following a three month consultation.
Australia: Financial Adviser Associations Consider Merging
By Editors | 06/09/2022
The merger would create a single association that would speak for the financial advice profession in a “unified voice” and add clarity and power to the positions it takes.
Securities / Derivatives
ASIC Extends Ban on Binary Options Until 2031
By Editors | 06/09/2022
Since it came into effect, the ban has been “fully effective” in preventing retail clients from losing money trading binary options in Australia, ASIC said.
Market Infrastructure
ASX Amends Loss Allocation Rules for USD Clearing Defaults
By Editors | 03/09/2022
ASX has revised its approach to allocating losses that could arise from the default of USD settlement bank.
Australia Proposes Enhancements to Financial Advice Regime
By Editors | 02/09/2022
Superannuation trustees would also be able to provide personal advice to their members, and have discretion to decide how to charge for such advice.
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