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Conduct, Culture & Accountability
Australia Tables Bill to Establish Compensation Scheme of Last Resort
By Manesh Samtani | 13/09/2022
Some in the industry have expressed concerns that the CSLR does not go far enough, as its scope does not cover managed investment schemes.
Anti-Money Laundering
Australian Federal Police Forms Cryptocurrency Unit
By Editors | 13/09/2022
The new unit will target assets and provide investigative tracing capabilities for all of the AFP’s commands across all of its businesses.
Reporting & Disclosures
Glencore Facing Greenwashing Allegations in Australia
By Editors | 13/09/2022
A complaint from environmental lawyers calls on the ACCC and ASIC to investigate statements made by Glencore about its plans to reach net zero by 2050.
Emerging Prudential Risks
APRA Details Plans to Modernise Prudential Architecture
By Editors | 13/09/2022
APRA will modernise its guidance for banks, insurers and superannuation funds to make it easier to understand and comply with.
Anti-Money Laundering
AUSTRAC Launches AML Probe into Entain Group
By Editors | 13/09/2022
London-listed betting company Entain Group was also fined last month by the UK Gambling Commission for AML and social responsibility failures.
Emerging Prudential Risks
New Bank Disclosure Requirements Deferred Three Months: RBNZ
By Editors | 12/09/2022
The changes to bank assurance reports will come into force for reporting dates starting from 31 December 2022, three months later than planned.
Conduct, Culture & Accountability
ASIC Highlights Industry Action to Correct Misleading Fund Marketing
By Sanday Chongo Kabange | 12/09/2022
Responsible entities and trustees voluntarily took action once ASIC expressed concerns over their funds’ marketing materials.
Trading & Investment
NZ FMA Concerned Over Retail Involvement in Stock Lending
By Editors | 09/09/2022
The FMA says investors should make sure the risks and returns are properly explained before they allow their shares to be lent out.
Structural Regulation
Australia to Reverse Regulations for Litigation Funders
By Editors | 09/09/2022
Litigation funding schemes will regain exemptions from requirements to hold an AFS licence and be subject to the same regulations as managed investment schemes.
Cryptocurrency
Australia Clarifies Crypto is Not Taxed as Foreign Currency
By Editors | 08/09/2022
The proposed legislation removes uncertainty regarding whether Bitcoin may be treated as a ‘foreign currency’ for income tax purposes.
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