ADVERTISEMENT
Enforcement
ASIC Imposes Eight Year Bans Over Pressure Selling of CFDs
By Editors | 21/07/2022
Two executives have been banned for eight years after their firm engaged in “unconscionable conduct” including the use of pressure selling tactics.
Capital / Liquidity
APRA Removes Remaining Capital Overlay Applied on Allianz
By Editors | 20/07/2022
APRA says it is satisfied that Allianz has fulfilled its commitments set out in a court enforceable undertaking undertaken in March 2021.
Capital / Liquidity
RBNZ Launches New Standing Repo Facility
By Editors | 19/07/2022
The facility will allow eligible counterparties to lend NZD overnight and receive New Zealand government bonds as collateral.
AML / KYC
New Zealand Court Dismisses Appeal of First AML Act Convictions
By Editors | 19/07/2022
Jiaxin Finance, its sole director and his mother were sentenced to pay fines for AML/CFT violations in 2020. Their appeals have been dismissed.
AML / KYC
NSW Authorities Inquire Into Money Laundering via Gaming Machines
By Editors | 17/07/2022
NSW Crime Commission issued new papers as part of an inquiry into money laundering via electronic gaming machines at pubs, clubs and hotels.
ASIC Bans Excessive Fees Charged to Small Credit Customers
By Editors | 15/07/2022
ASIC’s orders prohibit the provision of short term credit and continuing credit contracts which involve unreasonably high fees charged to retail clients.
Enforcement
ACCC Issues First Penalty for CDR Breach Against BOQ
By Sanday Chongo Kabange | 14/07/2022
This is the first infringement notice the ACCC has issued for an alleged breach of the CDR rules as BOQ pays penalty.
AML / KYC
Australian Banks Introduce Dynamic CVV to Reduce Card Fraud
By Editors | 14/07/2022
Westpac customers who use dynamic CVV have seen an 80 percent reduction in fraud compared to those who don’t.
Securities / Derivatives
Australia to Explore Unintended Impacts of Super Reforms
By Editors | 12/07/2022
In light of the upcoming review, the government will pause a planned extension of APRA’s performance tests beyond MySuper products for 12 months.
AML / KYC
RBNZ Issues Formal Warning to BNZ Over AML Rule Breaches
By Editors | 11/07/2022
A coding error caused NAB-owned Bank of New Zealand to report incorrect locations to the FIU for around 50,000 domestic physical cash transactions.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team