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Enforcement
Australia Court Orders Retrial of Banned Mayfair 101 Director
By Editors | 21/09/2022
ASIC put a “legally incorrect case” and the primary judge made orders “based on a legally correct case not put”, the court said.
ESG / Sustainability
ACCC to Commence Internet Sweep Targeting Greenwashing
By Editors | 21/09/2022
Businesses may be asked to substantiate their green claims. The ACCC may take enforcement action if consumers are being misled or deceived.
ESG / Sustainability
New Zealand to Issue First Sovereign Green Bonds This Year
By Editors | 18/09/2022
New Zealand’s Treasury has appointed BNZ and Deutsche Bank (Sydney) as joint structuring advisors to help establish the sovereign green bond programme.
Australia: FPA Adopts Simplified Professional Conduct Code
By Editors | 17/09/2022
A key element underpinning the new FPA Code is that members’ actions should promote a culture that “supports and requires integrity in others”.
Capital / Liquidity
APRA Proposes to Update Guidance on Contingent Liquidity
By Editors | 17/09/2022
APRA will reduce the level of self-securitised assets banks must hold as contingent liquidity, provided they can increase these levels quickly if stress conditions emerge.
Market Infrastructure
Australia Details Issues Under Scrutiny in Central Bank Review
By Editors | 15/09/2022
The review will consider the RBA’s current board structure, governance, and decision-making effectiveness and transparency.
Enforcement
ASIC Places Interim Stop Orders on Two Property Funds
By Editors | 15/09/2022
The orders prevent the funds from being offered or distributed to consumers until deficiencies in their TMD statements are addressed to ASIC’s satisfaction.
Market Infrastructure
Australia Reintroduces Legislation for Financial Accountability Regime
By Editors | 13/09/2022
If the legislation passes, the FAR will apply to banks six months after commencement, and to insurance and superannuation 18 months after commencement.
Enforcement
Australia Tables Bill to Establish Compensation Scheme of Last Resort
By Manesh Samtani | 13/09/2022
Some in the industry have expressed concerns that the CSLR does not go far enough, as its scope does not cover managed investment schemes.
Crypto / Digital Assets
Australian Federal Police Forms Cryptocurrency Unit
By Editors | 13/09/2022
The new unit will target assets and provide investigative tracing capabilities for all of the AFP’s commands across all of its businesses.
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