Australia

    ASIC Urged to Enhance Oversight of Company Auditors

    By Sanday Chongo Kabange | 10/12/2025

    National audit office finds ASIC's supervision lacks depth, with recommendations for a major overhaul of its risk-based approach.

    Market Infrastructure

    APRA Proposes Easing Operational Risk Rules for Key Service Providers

    By Sanday Chongo Kabange | 10/12/2025

    The consultation seeks to exempt firms from some contractual requirements in CPS 230 for non-negotiable, market-mandated provider arrangements.

    ASIC Publishes "Catalogue" of Obligations for Private Credit Funds

    By Sanday Chongo Kabange | 10/12/2025

    ASIC has published a new catalogue outlining key legal obligations for retail and wholesale private credit fund operators.

    Crypto / Digital Assets

    ASIC Finalises Licensing Relief for Stablecoin, Wrapped Token Intermediaries

    By Sanday Chongo Kabange | 10/12/2025

    New class relief exempts intermediaries from separate licensing and permits omnibus accounts for digital asset custody, building on earlier measures.

    Enforcement

    ASIC Sues Diversa Trustees Over First Guardian Super Fund Collapse

    By Sanday Chongo Kabange | 10/12/2025

    ASIC alleges major due diligence and monitoring failures by the superannuation trustee, seeking penalties and member compensation.

    Enforcement

    CBA Pays Record Penalty for Breaching Consumer Data Right Rules

    By Sanday Chongo Kabange | 10/12/2025

    The penalty comes after CBA failed to enable data sharing for some business accounts, forcing customers to use less secure workarounds.

    Sanctions

    Australia Introduces ‘World-First’ Autonomous Sanctions Framework for Afghanistan

    By Sanday Chongo Kabange | 10/12/2025

    The new framework was established in response to ongoing oppression and the undermining of the rule of law since the Taliban took control of Afghanistan in 2021.

    Enforcement

    Australia Examines Misuse of AI and Exam Cheating by Auditors

    By Sanday Chongo Kabange | 09/12/2025

    Government officials are reviewing Deloitte's contracts and questioning KPMG over AI's role in exam cheating that was not reported to ASIC.

    Crypto / Digital Assets

    Australia, New Zealand to Align on Financial Regulation, Insurance Access

    By Sanday Chongo Kabange | 08/12/2025

    Australian and New Zealand ministers have agreed to coordinate on payment systems and digital assets, and will establish a working group on insurance accessibility.

    ASIC Extends Transitional Relief for Foreign Financial Firms

    By Sanday Chongo Kabange | 07/12/2025

    The 12-month extension provides certainty as the government prepares a new licensing exemption regime for foreign financial services providers.

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