Australia

Enforcement

New Zealand Starts Publishing More Data on Banking Complaints

By Thisanka Siripala | 28/01/2025

Kiwibank had the highest number of total cases for the October to December quarter when adjusted for market cap

Fintech / Regtech

New Zealand to Create New Agency to Draw in Foreign Investment

By Thisanka Siripala | 28/01/2025

Invest New Zealand will serve as the government’s primary point of contact for foreign investors, offering streamlined access to key sectors.

Enforcement

Australian Court Orders Firstmac to Pay A$8m for DDO Breaches

By Thisanka Siripala | 28/01/2025

The court said Firstmac was “objectively reckless”. This is the first civil penalty action against a distributor involving DDO breaches.

Market Infrastructure

ASX Offers Explanation for December 2024 Market Disruption

By Sanday Chongo Kabange | 27/01/2025

ASX implemented a software fix, waived fail fees from 20-31 December 2024, and will distribute A$1mn in rebates to settlement participants.

Australia, Malaysia Auditors Asked for Input on IFRS Agenda

By Thisanka Siripala | 27/01/2025

Financial reporting professionals in Australia and Malaysia are asked to help inform the IASB’s future work to improve the IFRS.

Market Infrastructure

Australia to Form New Standard-setting Body for Financial Reporting

By Sanday Chongo Kabange | 25/01/2025

The new body will provide a “one stop shop” for the development and issuance of accounting, sustainability, auditing and assurance standards.

Enforcement

ASIC Probing ANZ for Underpaid Interest, Hardship Provisions

By Editors | 23/01/2025

ASIC reportedly investigating allegations that ANZ miscalculated interest on thousands of customer savings accounts.

ESG / Sustainability

Australia Proposes Immunity Provisions for Sustainability Reports

By Thisanka Siripala | 23/01/2025

The limited immunity provisions are aimed at protecting businesses from certain liabilities and encouraging early adoption of sustainability reporting.

ESG / Sustainability

Super Fund CEOs Highlight Climate Risk Reporting Challenges

By Sanday Chongo Kabange | 22/01/2025

APRA and ASIC called on industry bodies to play a bigger role in supporting super funds including developing a code to facilitate collaboration