Australia

Enforcement

ASIC Charges Four in Telegram ‘Pump and Dump’ Case

By Sanday Chongo Kabange | 24/07/2024

Four individuals coordinated to select penny stock targets and announced those targets in a public Telegram group named the ‘ASX Pump and Dump Group’.

Fintech / Regtech

APRA Issues Final Version of Digital Prudential Handbook

By Sanday Chongo Kabange | 24/07/2024

The handbook brings together all of APRA’s prudential standards, prudential practice guides and relevant supporting information in one place.

Capital / Liquidity

APRA Requires OnePath Custodians to Pay A$10.7m

By Sanday Chongo Kabange | 23/07/2024

Deputy Chair Margaret Cole said APRA’s patience for entities who are still struggling with foundational issues has “run out”.

ASIC Signs Data Sharing MoU With Information Commissioner

By Sanday Chongo Kabange | 22/07/2024

ASIC and the OAIC will share data and privacy breach information to enable both agencies to perform their functions more effectively.

ESG / Sustainability

New Zealand FMA Issues Draft Disclosure Guidance for CREs

By Sanday Chongo Kabange | 22/07/2024

The guidance describes how climate reporting entities should refer to climate statements in documents such as PDS and annual reports.

AML / KYC

FATF Upgrades New Zealand on Five Recommendations

By Editors | 21/07/2024

Revised AML/CFT regulations adopted in June 2023 addressed most deficiencies in recommendations 14, 16, 18, 22 and 23.

Enforcement

Amex Fined in Australia for Issuing Unsuitable Credit Cards

By Editors | 20/07/2024

The decision highlights requirements for product issuers to actively review whether their target market determinations remain appropriate over time.

Market Infrastructure

NZX Consults on Regulatory Settings for Index Futures Relaunch

By Manesh Samtani | 19/07/2024

One of the changes is to reduce the unit of trading from NZD 25 to NZD 1 to enable greater participation from smaller investors.

NZ FMA Urges FIs to Enhance Fair Treatment of Customers

By Sanday Chongo Kabange | 19/07/2024

The FMA asks FIs to use findings from a recent consumer survey to enhance their practices for ensuring fair treatment of customers.