Australia

Anti-Money Laundering

Australia a ‘Laggard on the World Stage’, Senate AML Inquiry Finds

By Manesh Samtani | 31/03/2022

Senate committee warns that the government’s failure to bring lawyers, accountants and real estate professionals into the AML/CFT regime is harming Australians.

Conduct, Culture & Accountability

ASIC Finalises New Complaints Data Reporting Framework

By Editors | 31/03/2022

Under the framework, 11 large financial firms will be required to report internal dispute resolution data to ASIC for the first time by 28 February 2023.

Operational Risk

RBNZ Satisfied with ANZ NZ Governance Improvements

By Editors | 31/03/2022

ANZ has “invested heavily” in its director attestation framework remediation uplifted its overall governance capabilities.

AI Risk & Governance

Australia Consults on Regulatory Framework for Financial Advice

By Sanday Chongo Kabange | 29/03/2022

The consultation asks how fintech could help reduce financial advice costs and how to make advice more accessible, including through robo-advisers.

Clearing & Post-Trade

ASX Announces Likely Delay to Chess Replacement Go-Live

By Editors | 29/03/2022

The next software release from technology provider Digital Asset has been delayed by three months, impacting the project schedule.

Stablecoins

ANZ Launches First Bank-issued AUD Stablecoin

By Manesh Samtani | 24/03/2022

The stablecoin is expected to help investors avoid the costs and exchange rate risk associated with converting AUD into USD to trade in crypto markets.

Conduct, Culture & Accountability

ASIC Probes Fund Managers for Misleading Marketing

By Sanday Chongo Kabange | 24/03/2022

ASIC is assessing whether fund managers made false or misleading statements or engaged in misleading or deceptive conduct when marketing their funds.

Supervision & Enforcement

RBNZ Raises Transparency of Regulatory Breaches by Banks

By Editors | 24/03/2022

The RBNZ has launched a new register to improve transparency about material breaches of key prudential requirements by banks.

Fraud, Scams & Cybercrime

ACCC Launches Court Proceedings Over Crypto Ads on Facebook

By Editors | 23/03/2022

The ads contained links to fake media articles containing quotes attributed to public figures endorsing cryptocurrency or money-making schemes.