Regulatory Updates

AUSTRAC have now published the AML/CTF Rules, which provides important supplementary detail to the AML/CTF Act.

This includes:

• the …

Unlike a director or officer, a Responsible Manager (“RM”) is not a legal concept. The term does not exist in …

CS 22 Proposed update to ASIC’s guidance on Product Disclosure Statements. ASIC is proposing to update Regulatory Guide 168: …

Court declares CFD platform clause an unfair contract term

The Supreme Court of Western Australia declared that a term relied …

AUSTRAC called on independent remittance businesses that are no longer operating to voluntarily withdraw their registration or risk cancellation. AUSTRAC …

AUSTRAC commenced civil penalty proceedings in the Federal Court against Mount Pritchard District and Community Club alleging breaches of AML/CTF …

The recent Supreme Court of NSW decision in Merciful Group Incorporated v Norfina Limited t/as Suncorp Bank provides important guidance …

AUSTRAC directed Binance Australia, a digital currency exchange, to appoint an external auditor after identifying serious concerns with its anti-money …

AFCA published an updated Financial Difficulty EDR Response Guide which sets out AFCA’s expectations for how a financial firm should …

ASIC commenced civil penalty proceedings in the Federal Court against Mercer Superannuation (Australia) Limited alleging failures to comply with the …

The Treasury Laws Amendment (Payments System Modernisation) Bill 2025 was introduced into Parliament on 30 July 2025.

The Bill proposes …

ASIC revealed more than 14,000 investment scam and phishing websites have been knocked out since the takedown capability began two …

ASIC released data on reports of misconduct for the six-month period from 1 January 2025 to 30 June 2025. ASIC …

ASIC’s Report 811 Better and beyond: Expanding better banking outcomes to more low-income Australians revealed that 21 surveyed banks will …

The Australian Information Commissioner has filed civil penalty proceedings in the Federal Court against Optus following an investigation into the …

The Federal Court has ordered National Australia Bank and its subsidiary, AFSH Nominees Pty Ltd, to pay a pecuniary penalty …

The Federal Court has imposed penalties of $4 million against Rent4Keeps (Aust) Pty Ltd and $3.4 million against its largest …

ASIC commenced civil penalty proceedings in the Federal Court against Equity Trustees Superannuation Limited, alleging failures in due diligence concerning …

ASIC Chair Joe Longo delivered a keynote address at the Financial Services Council Symposium. Mr Longo highlighted two of ASIC’s …

Following a review of direct sales practices, ASIC issued a letter to life insurance companies outlining its concerns and urging …

ASIC banned financial adviser Andrew Rankin from providing any financial services, controlling an entity that carries on a financial services …

ASIC banned financial adviser Ian Wailes Potter after a provisional relevant provider under his supervision provided advice to clients that …

ASIC released proposed updates to its conflicts management guidance in Regulatory Guide 181 Licensing: Managing conflicts of interest for consultation. …

ASIC published its annual financial advice update addressing regulatory developments and issues affecting the provision of financial advice.

ASIC’s update …

We are now over halfway into 2025, and the important mission (should you choose to accept) continues to linger: how …

CP 384 Employee redundancy funds. ASIC is seeking feedback on the requirements that should apply to employee redundancy funds …

ASIC provides regulatory relief for tokenised asset settlement research project

Project Acacia is a joint research project between RBA and …

AUSTRAC has cancelled the EU entered into with PayPal Australia after the company completed a two-year plan to improve its …

Some time ago, Gold Corporation (trading as Perth Mint) entered into under an Enforceable Undertaking from AUSTRAC due to serious …

AUSTRAC is introducing new conditions for cryptocurrency ATM providers to reduce the risk of money laundering, scams, and other financial …

AUSTRAC is expanding the Fintel Alliance to strengthen its fight against financial crime. This world-leading partnership brings together government, law …

AUSTRAC is rolling out a more secure and user-friendly online experience, following a successful pilot of new security features. Between …

AUSTRAC has released updated guidance to help businesses support customers who may not be able to provide standard identification documents. …

AUSTRAC has published its regulatory expectations for new and existing reporting entities ahead of the reforms to the Anti-Money Laundering …

AUSTRAC has released its regulatory priorities for 2025-2026, outlining its plan to combat money laundering, terrorism financing and other serious …

ASIC Chair Joe Longo has delivered a keynote address at the ABA Banking Conference on Artificial Intelligence, focusing on the …

ASIC has commenced proceedings in the NSW Supreme Court against financial advice business Fortnum Private Wealth Limited alleging it failed …

Former Executive Chairman of BBY Limited, Glenn Alexander Rosewall, has been charged in the Downing Centre Local Court with aiding, …

The Federal Court has sentenced Daniel Kirby, previous director of collapsed retail over-the-counter derivatives provider, Berndale Capital Securities Pty Ltd, …

The Federal Court’s determination against the Mayfair 101 Group companies has lessons for both AFS and credit licensees on …

The Federal Court has ordered a $3.5 million penalty against ACBF Funeral Plans Pty Ltd (in liquidation) for misrepresenting that …

ASIC has appealed the Federal Court’s decision dismissing part of ASIC’s proceedings against HCF Life Insurance Company Pty Ltd in …

AFCA received 100,745 complaints in the financial year ending 30 June 2025, a 4 per cent decline in complaints compared …

In a matter which holds lessons for both AFS and credit licensees, ASIC has banned former financial adviser and director …

ASIC has announced a review into the debt management and credit repair sector as part of its continued focus on …

ASIC has cancelled eight Australian credit licences and suspended one.

The cancelled or suspended credit licences include:

• Capital House Pty …

ASIC has commenced legal proceedings in the Federal Court against Venture 5 Group Pty Ltd, trading as CashnGo Australia, alleging …

ASIC has successfully defended its fight against Cigno Australia Pty Ltd and BSF Solutions Pty Ltd after winning an appeal …

ASIC has updated Information Sheet 225 Crypto-assets. However, the updates appear only to be to formatting and do not …

The Full Federal Court has dismissed ASIC’s appeal in the Finder Wallet case, upholding a defining ruling that the Finder …