Australia

AML / KYC

ASIC’s Action Against Star Directors Sends Warning Shot Across Bows — And Boards

By Nathan Lynch | 18/03/2025

The case against 11 of Star casino’s directors highlights the pressure on boards to understand, mitigate and manage AML/CTF risks, writes Nathan Lynch.

AML / KYC

New Zealand FIU Publishes National Risk Assessment

By Thisanka Siripala | 18/03/2025

While banking remains the highest-risk sector. Money transfer services, VASPs and DNFBPs also highlighted as vulnerable.

Enforcement

ASIC Takes Action Against 17 SMSF Auditors Over Compliance Breaches

By Thisanka Siripala | 18/03/2025

The affected auditors oversaw funds managing more than AUD 1 trillion in assets across 638,000 SMSFs.

Australia to Guarantee ANZ Operations in Pacific Islands

By Thisanka Siripala | 18/03/2025

ANZ will invest an additional AUD 50 million to help address a decline in the number of foreign banks willing to serve the region.

Securities / Derivatives

Australia Clarifies Managed Investment Trusts Tax Rules

By Thisanka Siripala | 17/03/2025

New tax amendments confirm that foreign pension funds can continue accessing concessional withholding tax rates through MITs.

Enforcement

Australia: BUSSQ Ready to Comply with APRA Licence Conditions

By Sanday Chongo Kabange | 14/03/2025

BUSSQ has dropped its appeal against a decision requiring it to comply with additional licence conditions imposed by April last August.

Enforcement

ASIC Warns Payday Lenders Over Potential Regulatory Breaches

By Thisanka Siripala | 14/03/2025

ASIC found that some payday lenders have structured their business models to avoid consumer protection obligations.

Crypto / Digital Assets

GDF Warns ASIC Against Overregulating Digital Assets

By Manesh Samtani | 14/03/2025

ASIC should create a dedicated regulatory framework instead of primarily lifting from existing requirements, GDF says.

Enforcement

ASIC Takes FIIG Securities to Court Over Cybersecurity Failures

By Thisanka Siripala | 14/03/2025

ASIC alleges systemic and prolonged cybersecurity failures led to the compromise of personal information of approximately 18,000 clients.