Australia

AML / KYC

Australia Court Orders Two Former Star Execs to Pay Fines

By Sanday Chongo Kabange | 25/02/2025

The Federal Court imposed monetary penalties against the two former executives and temporary bans on managing corporations.

Market Infrastructure

ASIC Issues New Clearing and Settlement Rules for ASX

By Sanday Chongo Kabange | 25/02/2025

ASX must ensure pricing of its clearing and settlement services is “transparent, fair and reasonable”, among other requirements.

AML / KYC

New Sanctions Announced to Mark Third Year of Ukraine War

By Editors | 25/02/2025

EU, UK, Canada, Australia, New Zealand sanctions target circumvention via third countries, Russia’s shadow fleet, financial institutions, trade

Sanctions

Australia: Parliamentary Inquiry Calls for Strengthening of Sanctions Regime

By Manesh Samtani | 25/02/2025

The government should consider greater application of thematic sanctions, increase focus on enforcement, and close loopholes.

Enforcement

Australian Online Safety Commissioner Imposes A$1m on Telegram

By Thisanka Siripala | 24/02/2025

The messaging platform said the fine is “unfair and disproportionate” and indicated its intention to appeal the decision.

Enforcement

Federal Court Orders AustralianSuper to Pay A$27m Penalty

By Thisanka Siripala | 24/02/2025

AustralianSuper failed to merge duplicate accounts, resulting in members incurring redundant administration fees, insurance premiums, and lost investment earnings.

Capital / Liquidity

APRA to Ease Home Loan Barriers for Borrowers with Student Debt

By Thisanka Siripala | 21/02/2025

APRA proposes to remove HELP debts from DTI reporting and allow banks to exclude HELP debt repayments from serviceability assessments in some cases.

Market Infrastructure

APRA Rescinds 2018 Outsourcing Guidance to Reduce Regulatory Burden

By Sanday Chongo Kabange | 20/02/2025

APRA rescinded its 2018 information paper on cloud outsourcing in light of new operational risk management standards coming into effect in July.

ASIC Proposes Further Tweaks to Reportable Situations Regime

By Thisanka Siripala | 20/02/2025

The proposed relief is based on the reasoning that some reported breaches offer limited intelligence value while imposing compliance costs on licensees.