Australia

    AML / KYC

    NSW to Strengthen State AML Laws to Target Organised Crime

    By Editors | 24/06/2022

    New legislation will be introduced around September to enable police to stop-and-search for and seize unexplained wealth and ban encrypted devices.

    Market Infrastructure

    NZ FMA Issues Guidance on Financial Sector Cyber Resilience

    By Editors | 24/06/2022

    The financial services sector recorded more cyber incidents than all other industries in New Zealand in the quarter ending March.

    AML / KYC

    AUSTRAC Focuses Efforts on Gambling Sector, Prosecutions

    By Sanday Chongo Kabange | 22/06/2022

    AUSTRAC CEO Nicole Rose says the gambling sector must invest in robust compliance and AML programmes.

    FMA Set Out Plan for Identifying Cases of Auditor Misconduct

    By Editors | 22/06/2022

    The FMA will perform audit quality reviews every two years for the big 4 audit firms and once every three years for the other registered audit firms.

    Enforcement

    Australian Court Sentences CFD Trader for Insider Trading

    By Editors | 21/06/2022

    The CFD trader made AUD 343,000 in profit by trading on inside information regarding a takeover bid for PanAust Limited.

    Enforcement

    Australia: Allianz, AWP Plead Guilty for Making False Statements

    By Editors | 19/06/2022

    Charges were filed against Allianz Australia Insurance and AWP Australia in February last year.

    Enforcement

    Australian Court Fines Money Transfer Firm for Exchange Rate Fixing

    By Editors | 18/06/2022

    Four individuals were also sentenced to jail on criminal cartel charges, but they were released on good behaviour bonds.

    Capital / Liquidity

    New Zealand: Responsible Lending Rules to Change on 7 July

    By Editors | 17/06/2022

    Responsible lending laws introduced in December have been blamed for causing tighter credit conditions for New Zealand borrowers.

    Market Infrastructure

    ASIC Calls on Listed Companies to Bolster Cyber Resilience

    By Sanday Chongo Kabange | 16/06/2022

    Companies should review their cyber resilience settings and ensure detection, mitigation and response measures are adequate, says Greg Yanco.

    Enforcement

    NZ FMA Fines Cigna for ANZ Product Distribution Failures

    By Editors | 15/06/2022

    ANZ was fined last year for making misleading representations when distributing CCRI policies, many of which were issued by Cigna and OnePath.

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