Australia

New Reporting Requirements for Super Funds Take Effect in Australia

By Editors | 27/07/2024

ASIC also now has the power to enforce compliance by super funds with accounting and auditing standards, akin to the powers it exercises over listed companies.

Securities / Derivatives

New Zealand FMA Issues Guidance on Protecting Client Assets

By Sanday Chongo Kabange | 27/07/2024

The guidance note applies to financial service providers that hold or deal with client money or property on behalf of clients, including stockbrokers and custodians.

Market Infrastructure

Australia Explores Benefits of Central Clearing for Bond, Repo Markets

By Sanday Chongo Kabange | 26/07/2024

The CFR says changes in the size and structure of the Australian bond and repo markets may have strengthened the case for introducing central clearing.

Securities / Derivatives

ASIC Files Lawsuit Against COFCO for Wheat Futures Manipulation

By Nithya Subramanian | 26/07/2024

ASIC alleged that COFCO manipulated contracts by placing orders shortly before the market close, creating an artificial daily settlement price.

Crypto / Digital Assets

HSBC Australia Blocks Payments to Crypto Exchanges

By Editors | 26/07/2024

The decision was made in light of data showing that Australians lost up to A$171mn in investment scams in 2023.

Australia Consults on CGT Regime for Foreign Residents

By Ranamita Chakraborty | 25/07/2024

The foreign resident capital gains tax regime and capital gains withholding regime are both being amended.

Sanctions

Australia Imposes First Sanctions Against Israelis in West Bank

By Editors | 25/07/2024

Seven Israelis and a youth group were sanctioned for their involvement in violent attacks against Palestinian communities.

Market Infrastructure

ASIC Establishes Special Unit to Examine Valuations in Private Markets

By Ranamita Chakraborty | 25/07/2024

The dedicated unit will address transparency concerns in private markets, aiming to ensure fair practices and investor protection.

Market Infrastructure

Australia Consults on Draft Legislation to Reform Merger Rules

By Sanday Chongo Kabange | 25/07/2024

Treasurer Jim Chalmers said the reforms will make Australia’s merger approval system faster, stronger, simpler, more targeted and more transparent.