Australia

    image

    Enforcement

    APRA Reduces Westpac’s Operational Risk Capital Add-on

    By Sanday Chongo Kabange | 19/07/2024

    APRA reduced Westpac’s A$1bn operational risk capital add-on by half in response to progress made to address risk governance concerns.

    image

    Australia to Update Registration Framework for Tax Practitioners

    By Editors | 18/07/2024

    The registration framework is being updated to better protect consumers and ensure higher standards of professional conduct among tax practitioners.

    image

    Enforcement

    Australia Fines Telstra for Failure to Authenticate Customer IDs

    By Editors | 18/07/2024

    The ACMA said Telstra failed to use ID authentication processes for 168,000 high-risk customer interactions, such as SIM-swap requests and password resets.

    image

    Enforcement

    APRA Orders Superannuation Trustee to Address Data Issues

    By Sanday Chongo Kabange | 17/07/2024

    APRA requires Fiducian Portfolio Services to fix issues related to the accuracy and completeness of data submitted for the superannuation performance test.

    image

    Enforcement

    Australia Convicts Ex-Crypto Promoter for Unlicensed Financial Advice

    By Sanday Chongo Kabange | 16/07/2024

    John Bigatton was convicted for providing unlicensed financial advice when he promoted BitConnect in seminars and on social media.

    image

    Enforcement

    ASIC Intervenes to Secure Fee Refunds for Bank Customers

    By Sanday Chongo Kabange | 16/07/2024

    ANZ, Bendigo and Adelaide Bank, CBA and Westpac will refund over A$28mn to low-income customers who were charged inappropriately high fees.

    image

    AML / KYC

    AUSTRAC to Deliver New Reporting Platform in “Coming Months”

    By Editors | 15/07/2024

    AUSTRAC said in 2021 that it would be replacing its reporting system. The final stage of features will be delivered in the “coming months”.

    image

    NZ Aligns Rules Across Dispute Resolution Schemes

    By Editors | 14/07/2024

    The maximum compensation limit is being aligned at NZ$500,000 across four financial dispute resolution schemes.

    image

    Enforcement

    ANZ Under Scrutiny for Misreported Bond Trading Data

    By Editors | 14/07/2024

    ANZ reportedly overstated the value of government bonds it traded and amplified its ranking against peer banks.

    image

    Market Infrastructure

    FAR Guidance Finalised for Insurance, Superannuation Industries

    By Sanday Chongo Kabange | 12/07/2024

    ASIC and APRA have completed the total package of guidance materials for the Financial Accountability Regime.

    JOIN OUR NEWSLETTER

    An exclusive weekly selection of top stories from the Regulation Asia editorial team.