Australia

ASIC Updates Guidance to Support Reforms Under DBFO Act

By Thisanka Siripala | 26/11/2024

ASIC issued new and updated regulatory guidance in response to the DBFO Act, which was enacted to improve transparency and consumer protections in financial services.

ASIC Targets Death Benefit Claims Handling at Super Funds

By Sanday Chongo Kabange | 25/11/2024

ASIC issued notices on ten superannuation trustees requesting data and documents on their death benefit claims handling practices.

ESG / Sustainability

Australia Unveils Strategy to Modernise Sovereign Wealth Fund

By Thisanka Siripala | 24/11/2024

The government is refreshing and renewing the Future Fund to make it “stronger, more successful and more sustainable into the future”.

AML / KYC

Australia to Expand National Scheme on Unexplained Wealth

By Thisanka Siripala | 23/11/2024

The government tabled in Parliament its response to an independent review of the ‘National Cooperative Scheme on Unexplained Wealth’.

Crypto / Digital Assets

Australia Consults on Adopting Tax Reporting Framework for Crypto

By Nithya Subramanian | 22/11/2024

The consultation explores policy options, compliance timelines, and strategies to ensure transparency and tackle tax evasion in the crypto market.

Australia Unveils Planned Reforms to Improve Retirement Outcomes

By Thisanka Siripala | 22/11/2024

The reforms will improve the returement phase of superannuation through more trusted information, better products and greater transparency.

Market Infrastructure

ASX Amends Position Reporting Framework, Operating Rules

By Editors | 21/11/2024

The changes aim to align terminology with global practice, clarify reporting requirements, and remove burdensome notification requirements.

Enforcement

APRA Ends Probe into HESTA Super Fund Valuation Decisions

By Mark Johnston | 20/11/2024

HESTA agreed to make payments to members affected by valuation decisions made during the early days of the Covid-19 pandemic.

Enforcement

ASIC Sets Out Enforcement Priorities for 2025

By Sanday Chongo Kabange | 20/11/2024

ASIC’s enforcement priorities reflect the increased risks consumers are facing that are being driven by cost of living pressures.