Australia

Market Infrastructure

ASX Amends Position Reporting Framework, Operating Rules

By Editors | 21/11/2024

The changes aim to align terminology with global practice, clarify reporting requirements, and remove burdensome notification requirements.

Enforcement

APRA Ends Probe into HESTA Super Fund Valuation Decisions

By Mark Johnston | 20/11/2024

HESTA agreed to make payments to members affected by valuation decisions made during the early days of the Covid-19 pandemic.

Enforcement

ASIC Sets Out Enforcement Priorities for 2025

By Sanday Chongo Kabange | 20/11/2024

ASIC’s enforcement priorities reflect the increased risks consumers are facing that are being driven by cost of living pressures.

Fintech / Regtech

Australia Sets Out Roadmap for Ending Cheque Use

By Sanday Chongo Kabange | 19/11/2024

Cheques will stop being issued by mid-2028 and stop being accepted on 30 September 2029.

Enforcement

ASX Files Defence in ASIC’s Misleading Statements Case

By Sanday Chongo Kabange | 19/11/2024

CEO Helen Lofthouse said there was a “reasonable basis” for the statements ASX made about the CHESS replacement project’s progress on 10 February 2022 and it did not breach the law.

Enforcement

ASIC Sues NAB for Slow Response to Financial Hardship Claims

By Sanday Chongo Kabange | 19/11/2024

ASIC says NAB and a subsidiary failed to respond to financial hardship applications within 21 days as required by law.

Sanctions

Australian Court Upholds Sanctions Ruling in Alumina Dispute

By Editors | 18/11/2024

The judgment suggests that a sanctioned person can have a shareholding of far less than 50% in a company for it to be considered sanctioned.

ASIC to Launch Taskforce to Tackle Regulatory Complexity

By Thisanka Siripala | 18/11/2024

The “Simplification Consultative Group” will identify how ASIC can more efficiently and more effectively administer the law.

AML / KYC

Australia Consults on Enhanced Beneficial Ownership Reforms

By Sanday Chongo Kabange | 15/11/2024

The reforms aim to increase the disclosure of ownership information for listed companies and broaden the ASIC’s regulatory enforcement powers.