Australia

Fintech / Regtech

Australia: Tax Reforms Proposed to Support Financial Hub Ambitions

By Ranamita Chakraborty | 27/04/2021

Under Senator Andrew Bragg’s proposal, technology and finance business that relocate to Australia would pay concessional tax rate for seven years.

ESG / Sustainability

Australia: Super Fund Body Launches New Climate Change Policy

By Ranamita Chakraborty | 27/04/2021

The Australian Council of Superannuation Investors is seeking the integration of climate change risk in super fund investment strategies.

Securities / Derivatives

ASX to Introduce Default Management Auctions for ETD in Q3

By Editors | 25/04/2021

ASX consulted last year on the introduction of an auctions framework for exchange-traded derivatives in the event of a futures clearing participant’s default.

Australian Life Insurers Launch Professional Standards Framework

By Editors | 24/04/2021

The framework was developed through collaboration between life insurers comprising 95 percent of the gross written premium in the retail life industry.

Enforcement

ASIC Seeks Feedback on New Breach Reporting Guidance

By Manesh Samtani | 23/04/2021

The draft regulatory guide provides clarification on what constitutes a reportable situation under the upcoming breach reporting reforms.

Securities / Derivatives

FMA Warns Fund Managers Not to Mislead Investors

By Sanday Chongo Kabange | 22/04/2021

The FMA has directed fund managers not to advertise performance which only includes the recovery after March 2020.

ESG / Sustainability

APRA Issues Draft Guidance on Climate-related Financial Risk

By Manesh Samtani | 22/04/2021

The consultation says institutions and boards may face liability risks if they do not adequately consider or respond to the impacts of climate change.

Capital / Liquidity

New Zealand to Introduce Deposit Guarantee Scheme by 2023

By Sanday Chongo Kabange | 22/04/2021

The NZBA’s Roger Beaumont says banks should pay lower levies compared to non-bank deposit takers because they are less likely to call on the scheme.

Enforcement

Australian Court Imposes 20-Year Ban on Mayfair 101 Director

By Editors | 22/04/2021

James Mawhinney is prohibited from promoting and raising funds from the public through financial products for 20 years.