Australia

AML / KYC

Australia to Scrap Company Searches Fees from Sept 2023

By Editors | 04/04/2022

The scrapping of company search fees means ASIC will forgo A$64.9mn in revenue over three years from 2023-24.

AML / KYC

US Designates Russian Tech Firms for Enabling Sanctions Evasion

By Manesh Samtani | 03/04/2022

US sanctions 21 entities and 13 individuals. EU to propose new measures this week. Australia applies 35% export tariff.

Fintech / Regtech

APRA Sets Out Roadmap for Full Transition to APRA Connect

By Editors | 01/04/2022

APRA says it will receive all data collections through APRA Connect by 2027, and regulated entities should prepare by exploring automation opportunities.

AML / KYC

Australia a ‘Laggard on the World Stage’, Senate AML Inquiry Finds

By Manesh Samtani | 31/03/2022

Senate committee warns that the government’s failure to bring lawyers, accountants and real estate professionals into the AML/CFT regime is harming Australians.

ASIC Finalises New Complaints Data Reporting Framework

By Editors | 31/03/2022

Under the framework, 11 large financial firms will be required to report internal dispute resolution data to ASIC for the first time by 28 February 2023.

Capital / Liquidity

RBNZ Satisfied with ANZ NZ Governance Improvements

By Editors | 31/03/2022

ANZ has “invested heavily” in its director attestation framework remediation uplifted its overall governance capabilities.

Fintech / Regtech

Australia Consults on Regulatory Framework for Financial Advice

By Sanday Chongo Kabange | 29/03/2022

The consultation asks how fintech could help reduce financial advice costs and how to make advice more accessible, including through robo-advisers.

Crypto / Digital Assets

ASX Announces Likely Delay to Chess Replacement Go-Live

By Editors | 29/03/2022

The next software release from technology provider Digital Asset has been delayed by three months, impacting the project schedule.

Fintech / Regtech

ANZ Launches First Bank-issued AUD Stablecoin

By Manesh Samtani | 24/03/2022

The stablecoin is expected to help investors avoid the costs and exchange rate risk associated with converting AUD into USD to trade in crypto markets.