Australia

Market Infrastructure

ASX Issues 2nd Consultation on CHESS System Design

By Manesh Samtani | 06/08/2024

ASX proposes to move cash equities to a T+1 settlement cycle after the CHESS replacement is fully delivered in 2029.

Enforcement

APRA Removes NM Super’s Additional Licence Conditions

By Sanday Chongo Kabange | 06/08/2024

The additional licence conditions were imposed by APRA in 2019 over governance and risk management concerns.

Market Infrastructure

Australia, Vietnam to Cooperate on Capital Market Development

By Sanday Chongo Kabange | 05/08/2024

The MoU between ASIC and Vietnam’s SSC establishes a formal information-sharing mechanism between the two regulators.

ESG / Sustainability

Australian Court Orders Mercer to Pay A$11.3mn for Greenwashing

By Sanday Chongo Kabange | 05/08/2024

The case against Mercer Superannuation was ASIC’s first greenwashing action brought before the Federal Court.

ASIC Extends Licensing Relief for Foreign FIs to March 2025

By Sanday Chongo Kabange | 02/08/2024

The relief is extended ahead of a new licensing exemption regime for FFSPs due to commence in Australia on 1 April 2025.

AML / KYC

ACCC to Create 2nd NASC Fusion Cell to Target Job Scams

By Sanday Chongo Kabange | 01/08/2024

The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.

Australia’s New Code for Tax Practitioners Takes Effect

By Sanday Chongo Kabange | 01/08/2024

Tax practitioners will have until January or July 2025 to come into compliance, depending on their firm size.

ASIC Calls on Credit Card Lenders to Improve Consumer Outcomes

By Sanday Chongo Kabange | 01/08/2024

ASIC said some credit card providers are failing to identify consumers at risk of financial hardship and communicate what help may be available.

Australia’s ANZ Completes Acquisition of Suncorp Bank

By Editors | 01/08/2024

The transaction, which enhances ANZ’s footprint in Queensland, was authorised by the Australian Competition Tribunal in February and the Treasurer in June.