Regulatory Updates

You’re busy. You have a business to run and services to deliver. On top of that, your compliance consultant is …

Updated FATF Guidance on AML/CFT [sic] Measures and Financial Inclusion. The proposed guidance updates support recent changes to FATF …

ASIC suspends AFS licence following change of ownership

ASIC has suspended the AFS licence held by Beacon Wealth Pty Ltd …

AUSTRAC is looking to make further enhancements to AUSTRAC Online, with the goal of further strengthening the security of the …

AUSTRAC is encouraging inactive digital currency exchange businesses to voluntarily withdraw their registrations or risk having them cancelled.

AUSTRAC is …

AUSTRAC recently held its first industry forums in October 2024 to strengthen collaboration with reporting entities and tranche 2 entities. …

AUSTRAC’s cryptocurrency taskforce has uncovered compliance gaps in anti-money laundering and counter-terrorism financing checks among crypto ATM providers.

Established in …

AUSTRAC has introduced a new e-learning module, "Quality Reporting: Threshold Transaction Reports” to enhance compliance with anti-money laundering and …

Most financial advice licensees should already be enrolled with AUSTRAC on the basis that they provide what are known as …

AUSTRAC has developed a new webpage dedicated to the upcoming reforms to the AML/CTF reforms which are to come in …

AUSTRAC is currently reviewing industry feedback from its recent public consultation on the first draft exposure of the AML/CTF Rules, …

Effective from 31 March 2025, recent changes to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 have redefined the …

Following proceedings brought by ASIC, the Federal Court found that business lender Green County Pty Ltd and business loan …

ASIC has released RG 280 Sustainability reporting, for entities required to prepare a sustainability report under Chapter 2M of …

ASIC has announced that that it has updated the Information Sheets, Regulatory Guides and Instruments listed below. According to ASIC, …

At the 11th Annual Australian Government Data Governance Summit on the 2 April 2025, ASIC Commissioner Kate O’Rourke delivered several …

AFCA is currently in the process of renewing memberships for the 2025-26 financial year.  Invoices will be issued by AFCA …

Following ASIC’s actions against Lanterne, HSBC and FIIG Securities, it is clear that ASIC is firmly enforcing its regulatory priority …

ASIC has issued two infringement notices totalling $37,560 to debt management company Chapter Two Holdings Pty Ltd for alleged misleading …

The Full Federal Court has allowed an appeal by digital asset service provider Block Earner, overturning an earlier decision of …

ASIC has released Report 806 Taking ownership of death benefits: How trustees can deliver outcomes Australians deserve, providing its …

Following the commencement of the ASIC Derivative Transaction Rules (Reporting) 2024 on 21 October 2024, ASIC has issued a new …

ASIC has issued infringement notices to three AFS licensees whose financial advisers provided personal advice to retail clients while unregistered. …

ASIC has issued proceedings in the Federal Court against Hollard Insurance over an insurance claim that took nearly three and …

Two recent decisions of the Financial Services and Credit Panel provide lessons for advice licensees and advisers.

The first decision …

A recent Federal Court decision highlights the significant regulatory risks associated with routinely advising clients to set up SMSFs, particularly …

When applying for an AFSL, applicants must be prepared to meet the fit and proper requirement – a test that …

CP 382 Low cost credit contracts. This consultation paper sets out ASIC’s proposals for providing guidance to Australian credit …

ASIC releases its enforcement and regulatory update: July to December 2024

ASIC’s latest enforcement and regulatory update states that from …

FATF has released a report on detecting, disrupting and investigating online child sexual exploitation.

The landmark report draws on case …

AUSTRAC CEO Brendan Thomas recently spoke at the 2025 Regulating the Game conference, which is Australia's premier gambling law and …

An AUSTRAC intelligence report has assisted with the arrest of a man who was subsequently charged with importing a commercial …

On 28 February 2025, AUSTRAC published its AI Transparency Statement, reinforcing its commitment to transparent, responsible and well-governed AI …

New tipping off requirements apply from 31 March 2025. These requirements were introduced by the Anti-Money Laundering and Counter-Terrorism Financing …

ASIC has been successful in two appeals to the Full Federal Court regarding small amount lender Sunshine Loans.

The first …

ASIC has updated its regulatory guidance to clarify how the Higher Education Loan Program and other student loan commitments may …

ASIC has released its Report 805 Falling short: Compliance with the small amount credit contract obligations (REP 805) …

In its enforcement and regulatory update, ASIC continues to warn of the rise in online scams as it reports …

AFCA held its latest member forums on 12 and 13 March 2025.

In his opening address, Chief Ombudsman and CEO …

The Federal Government has approved a change to the conditions of AFCA’s authorisation to enable it to investigate and consider …

ASIC has taken action against FIIG Securities Limited in the Federal Court for allegedly failing to take appropriate steps, as …

A recent ASIC adviser banning is an invitation to advisers to consider their processes for having clients sign documents.

ASIC …

A recent ASIC banning order is a reminder that a financial adviser’s conduct in their personal life can impact their …

In an update to First Guardian Master Fund investors, ASIC announced it has applied to the Federal Court for the …

The Federal Court has ordered LGSS Pty Ltd (as trustee of the super fund Active Super) to pay a $10.5 …

The NSW Supreme Court has convicted and imposed criminal fines of $13.5 million against Allianz Australia Insurance Limited and $3.3 …

In the latest development in the Government’s grappling with how to regulate crypto, it has released a statement on …

ASIC has filed proceedings against AustralianSuper Pty Ltd, the trustee of Australia’s largest superannuation fund, over delayed processing of death …

The Government has released draft legislation and explanatory materials setting out the next proposed round of DBFO reforms.

The reforms …

Section 912A of the Corporations Act 2001 sets out the “ten(ish) commandments” for AFS licensees, the first of which is …