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Fintech / Regtech
New Monitoring Body Concludes First Review of ASIC
By Editors | 25/08/2022
ASIC requires a substantial uplift in its data and technology capability, the FRAA says in its first review of ASIC as a regulator.
Capital / Liquidity
RBNZ to Restrict Foreign Banks’ Branches from Retail Business
By Sanday Chongo Kabange | 25/08/2022
The RBNZ also proposes to limit the maximum size of a branch of an overseas bank to NZD 15 billion (USD 9.3 billion) in total assets.
Crypto / Digital Assets
ASIC Outlines Strategic Priorities in New Corporate Plan
By Sanday Chongo Kabange | 24/08/2022
ASIC will prioritise work to protect investors from the crypto risks, misconduct including greenwashing, and other harms.
Enforcement
Australia to Increase Max Penalties for Anti-Competitive Conduct
By Sanday Chongo Kabange | 23/08/2022
The maximum penalties for breaches of competition and consumer laws companies are being raised five-fold for both individuals and corporates.
Crypto / Digital Assets
Australia Set to Begin Consultation on Crypto Regulation
By Editors | 23/08/2022
Treasury will prioritise ‘token mapping’ work in 2022, to help identify how crypto assets and related services should be regulated. A consultation will be released “soon”.
Crypto / Digital Assets
ASX, Zerocap Complete Digital Asset Custody POC
By Editors | 18/08/2022
The project will support custody on Synfini, ASX’s new DLT-as-a-Service platform, for any tokenised asset, including crypto.
RBA to Establish Panel of Economists to Aid Policymaking
By Editors | 18/08/2022
The first meeting of the new panel is planned for 6 October, to discuss economic challenges and the appropriate role of forward guidance in monetary policy.
Crypto / Digital Assets
ASIC Concerned by Extent of Retail Investors Exposed to Crypto
By Editors | 18/08/2022
ASIC chair Joe Longo says better investor protections are needed after a survey of retail investors founr 44 percent were holding cryptocurrency.
ESG / Sustainability
Australia Needs National Carbon Market Strategy – Report
By Editors | 16/08/2022
The government should publish a national strategy that helps embed decarbonisation in everyday decision-making and upholds the integrity of offsets, the Climate Change Authority says.
Australia Commences Review of ASIC’s Industry Funding Model
By Editors | 15/08/2022
The review will be “forward looking” and focused on identifying refinements to the funding model to ensure its settings remain “appropriate”.
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