Regulatory Updates

It wasn’t long ago that someone would receive an email in their inbox saying they had received a large inheritance …

Regulation of Payment Service Providers – Tranche 1a draft legislation. Treasury is inviting feedback on the new regulatory framework …

Director permanently banned

ASIC has permanently banned former director of Skyecap Pty Ltd and Pineapple Funding Pty Ltd (“the companies”), …

AUSTRAC has issued a strong warning to online payment platforms after uncovering serious compliance failures that allowed transactions linked to …

AUSTRAC has taken enforcement action against Cryptolink, a crypto ATM operator, for failing to meet its anti-money laundering and counter-terrorism …

The Financial Action Task Force has published its next update on jurisdictions which may pose a risk to the international …

AFCA held its latest member forums on 5 and 6 November 2025.

In his opening address, Chief Ombudsman and CEO …

Following consultation, AFCA has published an updated Approach to family violence which replaces AFCA’s existing Approach to joint accounts …

ASIC has released Report 825, which is intended to update current and prospective AFS and credit licensees on the current …

The long awaited Corporations Amendment (Digital Assets Framework) Bill 2025, which seeks to regulate digital asset providers, has now …

The OAIC has published its 2024-25 Annual report.

In releasing the Report, Commissioner Elizabeth Tydd noted the importance of …

ASIC Commissioner Kate O’Rourke gave a speech at the Women in Payments Gala Evening this month about the “fast-moving world” …

ASIC has published its 2026 enforcement priorities. Some of the priorities are new issues and risks identified by ASIC, …

ASIC has launched its Reportable Situations dashboard.

The dashboard can be accessed by the public, and contains information about …

ASIC continues to focus on the small credit industry and small amount credit contracts (“SACC”) and has made an interim …

The High Court has denied the application for special leave to appeal made by Mark Swanepoel and Brenton Harrison, the …

Prime Super, as the Trustee of the Prime Super Superannuation Fund, allegedly made the misleading statement that manufacturers of …

ASIC has banned former director of Crown Wealth Group Pty Ltd, Brendan Rodwell, from performing any function involved in carrying …

ASIC has published Report 824 Review of SMSF establishment advice, which details ASIC’s findings from its recent review of …

ASIC has issued a number of different proceedings related to the Shield and First Guardian fallout. For a quick refresher, …

In November 2024, ASIC filed civil penalty proceedings against United Super Pty Ltd, the trustee of Cbus, alleging that United …

As a result of ASIC referring the matter to the Office of Public Prosecutions, the directors of AFSL holder Sheffield …

ASIC has taken administrative action against a number of licensees this month. It has:

• cancelled the AFSL of Ricard Securities …

See Bills introduced to Parliament, or exposure draft legislation released for consultation.

No doubt you will be aware of the alarming number of high-profile Federal Court proceedings commenced this year that deal …

CS 30 Proposed extension of stablecoin distribution exemption. ASIC is proposing to make ASIC Instrument 2025/XXX, which would …

ASIC Chair Joe Longo addresses the Senate Economics Legislation Committee

Mr Longo appeared at the Supplementary Budget Estimates hearing on …

The Australian Government is proposing new powers for AUSTRAC to tackle emerging money laundering threats by allowing the AUSTRAC CEO …

AUSTRAC released new guidance to help businesses prepare for significant upcoming changes to the AML/CTF regime. This includes support for …

As noted in last month’s T-REX, AFCA will now update the Datacube on a monthly basis, rather than updating it …

The Director of Public Prosecutions brought charges against Phillip Bird and Daniel Holmes for offences relating to Sheffield Insurance Pty …

ASIC has issued interim stop orders on the Product Disclosure Statements for two classes of units in the TruePillars Investment …

The Federal Court ordered Australian Clinical Labs to pay $5.8 million in civil penalties after a February 2022 data breach …

ASIC has called on financial services entities to urgently strengthen governance and risk management after a targeted review revealed serious …

ASIC released its 2024-25 Annual Report on 8 October 2025, which summarised the regulator’s activities over the previous financial year. …

ASIC commenced civil penalty proceedings against Fiducian Investment Management Services Limited, which is the responsible entity for the Diversified Social …

On 14 October 2025, ASIC Commissioner Alan Kirkland spoke at the Credit Law 2025 Conference. In his speech, Mr Kirkland …

The Federal Court ordered RAMS Financial Group Pty Ltd to pay $20 million in civil penalties for compliance failures in …

The Federal Court dismissed ASIC’s case against Keith Cohen, former director of various companies within the Freedom Insurance group of …

ASIC raised serious concerns about the quality and urgency of retirement communications provided by superannuation trustees. According to ASIC Report …

ASIC Commissioner Alan Kirkland called on the insurance industry to rebuild trust with the Australian community after “a challenging period …

ASIC has remade its relief instrument for managed investment product consideration, providing ongoing regulatory certainty for responsible entities of managed …

ASIC issued an urgent reminder to financial advisers and their licensees to update adviser qualifications on the Financial Advisers Register …

On 9 October 2025, Treasury released exposure draft legislation for the first stage of regulatory reforms for payment services providers, …

ASIC released Report 816 Accounting for your super: ASIC's review into the financial reporting and audit of super funds, …

ASIC issued two infringement notices totalling $37,560 to Retail Employees Superannuation Pty Ltd, after the fund made false or misleading …

ASIC banned Timothy Archibald, former Lighthouse Partners Pty Ltd adviser and director, from providing financial services for 10 years after …

This month, ASIC cancelled the following AFS licences:

• Lief Pty Ltd, for failing to hold AFCA membership
• Velos Global …

ASIC has finally released the final updated version of Information Sheet 225 (“INFO 225”).

In Australia, digital assets (e.g. tokens, …

See Bills introduced to Parliament, or exposure draft legislation released for consultation.