Australia

Market Infrastructure

ASIC Consults on Final Derivatives Reporting Rules

By Manesh Samtani | 17/05/2022

ASIC will implement the UTI and LEI requirements on 1 October 2023, and the UPI and CDE on 1 April 2024.

Australian Groups Call for Better Regulation of BNPL Services

By Sanday Chongo Kabange | 16/05/2022

Charities and consumer groups are calling for BNPL services to be regulated like other credit products to prevent unnecessary financial harm.

Enforcement

APRA Orders Super Trustee to Improve Governance

By Editors | 16/05/2022

APRA said the direction was necessary to ensure NESS Super Pty Ltd expedites the appointment of an additional independent director.

AFCA to Speed Up Dispute Resolution With Early Merit Assessments

By Editors | 14/05/2022

Pilot tests conducted last year found that early merit assessments halved the time taken to resolve certain cases and reduced fees charged by up to 75 percent.

Fintech / Regtech

CBOE Australia Commences Trading in First Three Crypto ETFs

By Editors | 13/05/2022

Cosmos launched a feeder ETF offering indirect bitcoin exposure. 21Shares and ETF Securities launched a bitcoin ETF and an ether ETF, offering direct exposure.

Crypto / Digital Assets

ASX Confirms Delay to Chess Replacement Go-Live Date

By Editors | 12/05/2022

ASX said a new go-live date will be determined after further planning with its technology partner and input from stakeholders.

Fintech / Regtech

Opposition to CBDC Based on Misconceptions, RBNZ Says

By Manesh Samtani | 11/05/2022

Respondents to the RBNZ’s consultation have expressed concerns that cash and privacy would be at risk of disappearing if a CBDC is issued.

Fintech / Regtech

ASIC to Issue Derivatives Reporting Consultation Soon

By Manesh Samtani | 11/05/2022

ASIC’s Alex Orgaz-Barnier says APAC regulators are targeting a common implementation date and alignment to the greatest extent possible.

Enforcement

Australian Court Penalises RI Advice Over Cybersecurity Failures

By Editors | 06/05/2022

The ruling is the first of its kind in Australia, and follows cyber incidents that occurred at authorised representatives of RI Advice between 2014 and 2020.