Australia

Market Infrastructure

APRA Unveils Planned Reforms to Boost Banking Competition

By Sanday Chongo Kabange | 24/07/2025

APRA has announced a new tiered framework and other measures to ease the burden on smaller banks.

Enforcement

ASIC Puts Bank Boards on Notice Over AI Risks and Governance

By Sanday Chongo Kabange | 24/07/2025

ASIC has warned that existing financial services laws apply directly to AI, placing the onus on boards to manage risks of consumer harm.

Securities / Derivatives

ASIC Probes Private Credit Markets as Part of Broader Review

By Manesh Samtani | 23/07/2025

ASIC is increasing surveillance of fund governance and valuations, with a reform roadmap due in Q4.

Fintech / Regtech

New Zealand Slashes Interchange Fees for Visa and Mastercard

By Manesh Samtani | 23/07/2025

Commerce Commission finalises caps on card payment fees, aiming to save businesses NZD 100m annually amid concerns over high costs.

Enforcement

AUSTRAC Announces Closure of Enforceable Undertaking with PayPal

By Sanday Chongo Kabange | 22/07/2025

AUSTRAC has cancelled its enforceable undertaking with PayPal after the company completed a two-year remediation plan.

Enforcement

ASIC Sues Fortnum Private Wealth Over Cybersecurity Failures

By Sanday Chongo Kabange | 22/07/2025

ASIC claims the financial advice licensee failed to manage cyber risks, exposing thousands of clients to data breaches.

Enforcement

ASIC Investigates Predatory Practices in Debt Management Sector

By Sanday Chongo Kabange | 22/07/2025

ASIC will review around 100 licensed firms amid concerns that vulnerable consumers are being harmed by predatory industry practices.

Securities / Derivatives

ASX Proposes Major Overhaul of Futures Clearing Default Fund

By Sanday Chongo Kabange | 22/07/2025

ASX is proposing to introduce monthly dynamic resizing, where clearing participants with higher tail risk make larger contributions.

Fintech / Regtech

Proposed Bill Seeks to Force New Zealand Businesses to Accept Cash

By Sanday Chongo Kabange | 22/07/2025

A new members' bill proposes to force most businesses to accept cash for transactions up to NZD 500, prompting debate from industry groups.