ADVERTISEMENT
Securities / Derivatives
Australia Tweaks Fee Component of Super Fund Performance Test
By Editors | 10/08/2021
The test will be based on the most recent financial year of administration fees, rather than the past eight years, to incentivise fee reductions.
AML / KYC
Australia to Introduce Magnitsky-style Sanctions Law
By Manesh Samtani | 08/08/2021
Australia will be able to impose targeted financial sanctions and travel bans against individuals and entities without the need for specific country-based regimes.
Enforcement
ASIC Sues Credit Firms for Failing to Cooperate with AFCA
By Sanday Chongo Kabange | 06/08/2021
Two firms repeatedly engaged in disruptive, aggressive and uncooperative behaviour toward AFCA, a civil penalty offence since April 2019.
Capital / Liquidity
APRA Releases Final Prudential Standard on Capital Adequacy
By Editors | 06/08/2021
CET1 capital may not have unusual features that could undermine its role as the highest quality loss-absorbing capital. The final APS 111 takes effect from 1 January 2022.
Enforcement
ASIC Issues Update on Compensation Paid for Non-compliant Advice
By Editors | 05/08/2021
Australia’s 6 largest FIs have paid over A$1.86 billion to compensate customers for fees-for-no-service misconduct and non-compliant advice.
Securities / Derivatives
Australia Launches Inquiry into Stock Ownership by Large Funds
By Editors | 04/08/2021
The government is said to be concerned about the growing influence of super funds as large shareholders of ASX listed companies.
AML / KYC
Australian Mining Magnate Charged Over A$38.5m Tax Evasion
By Sanday Chongo Kabange | 03/08/2021
The founder of a mining software and equipment company did not disclose overseas trust assets and evaded income tax over 15 years.
Fintech / Regtech
Australian Fintech Regulation Has to Change
By Dirk Steller | 03/08/2021
The government has dropped the ball when it comes to supporting the Australian fintech ecosystem, says Dirk Steller, founder of VC firm Seed Space.
AML / KYC
NZ FIU Calls on Industry to Ramp Up AML Efforts
By Manesh Samtani | 03/08/2021
The goal is to push criminals to the margins and into the hands of non-compliant operators, where law enforcement can be deployed more effectively.
Capital / Liquidity
RBNZ to Tighten Mortgage Lending Standards From October
By Editors | 02/08/2021
The RBNZ will further restrict high-LVR lending, and also consider the use of DTI restrictions and interest rate floors.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.