Australia

Enforcement

APRA Seeks Court Order to Disqualify First Super Co-chair

By Thisanka Siripala | 10/09/2024

APRA alleges Micheal O’Connor failed to meet the required standards of care and diligence required of a prudent superannuation entity director.

Enforcement

Australia’s New Anti-Foreign Bribery Law Comes into Force

By Sanday Chongo Kabange | 10/09/2024

Under the new law, companies will be held directly liable for failure to prevent foreign bribery by employees, external contractors, agents and subsidiaries.

Capital / Liquidity

RBNZ Sheds Light on Conceptual Framework for Promoting Resilience

By Editors | 10/09/2024

Deputy Governor Christian Hawkesby described the framework used to promote financial stability while simultaneously fostering innovation and competition.

Crypto / Digital Assets

Monochrome Moves to List Spot Ether ETF on Cboe Australia

By Thisanka Siripala | 07/09/2024

Monochrome expects the ETF to begin trading by the end of the month, making it the first in the country that holds ether directly.

AML / KYC

AUSTRAC Issues New Guidance on Outsourcing AML Functions

By Editors | 06/09/2024

Among other things, the guidance covers due diligence of service providers, outsourcing agreements, management and oversight, and performance monitoring.

Fintech / Regtech

Australian Government Begins Implementing New AI Policy

By Editors | 06/09/2024

DTA said it will publish a training module by early October, refresh its GenAI guidance, pilot an AI assurance framework, and develop technical standards.

Fintech / Regtech

New Zealand Consults on CDR for Banking, Electricity Sectors

By Sanday Chongo Kabange | 04/09/2024

The proposal would require ANZ, BNZ, ASB and Westpac to implement open banking from 1 Dec 2025 and Kiwibank from 1 Dec 2026.

Crypto / Digital Assets

UDPN Integrates AUDD Stablecoin into Global Platform

By Editors | 04/09/2024

The integration is expected to accelerate the adoption of AUDD, and reduce friction in international payments.

AML / KYC

New Zealand to Introduce AML Amendment Bill in November

By Sanday Chongo Kabange | 03/09/2024

A new cabinet paper sets out 25 proposals for further amendments to New Zealand’s AML/CFT Act.