Australia

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    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.

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    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.

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    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.

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    Market Infrastructure

    ASIC Commences Work on Regulatory Simplification Reforms

    By Sanday Chongo Kabange | 13/03/2025

    ASIC’s new “Simplification Consultative Group” is developing a discussion paper that will be released around Q3.

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    Enforcement

    ASIC Sues AustralianSuper for Breaching Regulatory Obligations

    By Sanday Chongo Kabange | 12/03/2025

    AustralianSuper allegedly failed to process death benefit claims and pay members’ benefits in a timely manner.

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    AML / KYC

    Australian Scam Losses Fall to A$2bn With Public-Private Partnership

    By Nathan Lynch | 12/03/2025

    Nathan Lynch discusses the NASC’s latest annual report and the insights it offers for bankers and AML/CFT professionals.

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    AML / KYC

    Australia Recorded Further Declines in Scam Losses in 2024

    By Sanday Chongo Kabange | 12/03/2025

    A new ministerial direction will strengthen the pathways for victims to seek compensation for scam losses.

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    Market Infrastructure

    RBA: Find Common Ground on Decommissioning BECS

    By Sanday Chongo Kabange | 11/03/2025

    The RBA found insufficient industry coordination, planning and certainty regarding decommissioning the BECS.

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    ESG / Sustainability

    ASFI Granted Authorisation to Engage on Sustainable Finance

    By Sanday Chongo Kabange | 11/03/2025

    The authorisation allows ASFI and its members to engage in discussions and exchange information in relation to sustainable finance solutions.

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    Capital / Liquidity

    New Zealand Banks Call on Lawmakers to Reconsider Capital Rules

    By Sanday Chongo Kabange | 11/03/2025

    New Zealand’s large banks have asked lawmakers to consider whether the capital rules set by the RBNZ are too onerous.

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